카지노 파칭코 Chemical Signs MOU on Cooperation for Petrochemical Complex with Government of Indonesia

and Enters EPC Constructor Selection Agreement



█ Invest a total of 3.9 billion USD in Indonesia for the ‘LINE Project’, which is a large-scale petro카지노 파칭코 complex construction project, with the goal of beginning

commercialproduction by ‘25...Estimated annual sales of 2.4 trillion KRW

█ Signed MOU with the 카지노 파칭코n Ministry of Investment and agreed on comprehensive cooperation such as government support for constructing a

petro카지노 파칭코 complex...EPC contract with 카지노 파칭코 Construction and Hyundai Engineering, and pursuing project in earnest

█ 카지노 파칭코 Chemical CEO and Vice Chairman Kim Gyo-hyun, “Expecting to strengthen 카지노 파칭코 Chemical’s global business competitiveness, while contributing

to economic growthandjob creation in 카지노 파칭코 through the LINE Project"

카지노 파칭코 Chemical (CEO and Vice Chairman Kim Gyo-hyun) finalized an MOU with the Indonesian government and selected constructors as it sets off to pursue the LINE Project in earnest.

카지노 파칭코 Chemical announced on the 7th that it held an MOU signing ceremony with the Indonesian Ministry of Investment and an EPC (engineering, procurement, construction) agreement signing ceremony with 카지노 파칭코 Construction and Hyundai Engineering.

This event was held through online video conferences between representatives from Korea and China. First, 카지노 파칭코 Chemical CEO and Vice Chairman Kim Gyo-hyun and Indonesian Minister of Investment Bahlil Lahadalia held an MOU signing ceremony. It was followed by EPC contract signings between Lee Gwan-ho of LCI, a subsidiary of 카지노 파칭코 Chemical Titan that is overseeing the LINE Project, and 카지노 파칭코 Construction CEO Ha Suk Joo and Hyundai Engineering Plant Division Head Hong Hyun-sung.

The Indonesian government pledged various incentives such as lowering raw material import tariffs, exemption from import tariffs for various equipment and materials needed for construction of the plant, increase in tax benefits, etc. for the successful completion of the project and commercial production for 카지노 파칭코 Chemical.

LINE Project is a massive petrochemical plant construction project in which 카지노 파칭코 Chemical and its subsidiary 카지노 파칭코 Chemical Titan will build in Banten, Indonesia with the goal of completing by 2025. It is expected to produce 1 million tons of ethylene, 520,000 tons of propylene (PL), 250,000 tons of polypropylene (Pp), and downstream products annually, and post sales of 2.06 billion USD (2.4 trillion KRW) every year.

카지노 파칭코 Chemical predicted the growth potential and increase in demand for petrochemical products in the Southeast Asian market early on and acquired Malaysia’s largest petrochemical company, Titan Chemical (currently 카지노 파칭코 Chemical Titan), back in 2010. It then constructed a naphtha cracking center (NCC) in Indonesia, while pursuing the LINE Project to complete vertical systemization with the existing polyethylene (PE) plant to strengthen its market competitiveness.

This project involved the construction of the largest naphtha cracker in Indonesia, and it is expected to improve the trade deficit of Indonesia, which currently imports 50% of its total petro카지노 파칭코 product demand, while providing the foundation for the development of the local petro카지노 파칭코 industry.

Vice Chairman Kim Gyo-hyun stated, “The LINE Project is important because it will not only strengthen 카지노 파칭코 Chemical’s global business competitiveness, but also lead to mutually strategic values such as the economic growth and job creation in Indonesia,” while adding, “I would like to express my gratitude to all stakeholders, and especially the central and local governments of Indonesia that made this project possible. I hope that this large-scale investment by 카지노 파칭코 Chemical will proceed successfully based on continuous support, thereby being beneficial to the overall economy of Indonesia.”

Minister Bahlil Lahadalia of the Indonesian Ministry of Investment/Investment Coordinating Board (BKPM) commented, “We thank 카지노 파칭코 Chemical for its investment, and once production begins through the LINE Project, we expect that there will not only be improvements to trade deficits by substituting imports, but also have a positive impact on all industries including petrochemicals in Indonesia.”