Trans Pacific Petrochemical Indotama (TPPI)’s petrochem plant in Tuban, Indonesia is expected to come on stream as scheduled in June 2006. TPPI is controlled by the government and will have an annual capacity to produce 1,065,000 tons of paraxylene, benzene, toluene and orthoxylene, 1,065,000 tons of light naphtha. TPPI is expected to earn US$600 million pa from exports of its aromatic products and save the nation US$900 million pa in imports of petrochemical products.
The project formerly belonged to the Indotama Group. However, financial problems following the 19997 crisis, forced the suspension of the 60% completed project. The US$1 billion project was then taken over by the government and construction was resumed after securing a loan of US$400 million from Japan Bank for International Cooperation.
14-Sep-05 
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