Government Wants Petrochemical Import Stopped

The progress of the megaproject development led by PT Lotte Chemical Indonesia in Cilegon, Banten, is renewing hopes for achieving independence in the petrochemical sector in Indonesia.

Akbar Evandio & Annasa Rizki Kamalina

13 Sep 2023 - 18.24
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Government Wants Petrochemical Import Stopped

Minister of Industry Agus Gumiwang while reviewing import substitution and structural strengthening projects in the petrochemical industry sector. Photo/Ministry of Industry

Bisnis, JAKARTA — The progress of the megaproject development led by PT Lotte Chemical Indonesia in Cilegon, Banten, is renewing hopes for achieving independence in the petrochemical sector in Indonesia. The presence of this facility is expected to contribute to a reduction in the country's reliance on imports of various petrochemical products.

The petrochemical production facility, backed by South Korean company PT Lotte Chemical Indonesia with a total investment of IDR 60 trillion, is expected to significantly reduce Indonesia's reliance on imported plastic raw materials.

Minister of Investment and Head of the Investment Coordinating Board Bahlil Lahadalia stated that the mega project undertaken by Lotte Chemical Indonesia is focused on import substitution. Approximately 70% of the products manufactured at the facility will be targeted for the domestic market, with the remaining 30% destined for the global market.

Bahlil emphasized the importance of prioritizing domestic needs to reduce imports, which would save foreign exchange and positively impact the Indonesian economy. Additionally, it is expected that this facility will create employment opportunities and have a positive ripple effect on the surrounding community.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.