Discuss Petrochemical Industry Investment, Genting Energy Boss Meet Minister Airlangga

INDUSTRY.co.id - Jakarta, Country Manager of Genting Energy Wandy Wanto visited Minister of Industry (Menperin) Airlangga Hartarto at Ministry of Industry Office, Jakarta, Friday (2/3/2018).

On the occasion, Minister of Industry Airlangga accompanied by Director General of Chemical, Textile and Multifarious Industries (IKTA), Achmad Sigit Dwiwahjono.

" this time, we discuss about investment in the petrochemical industry sector in Indonesia," said Airlangga.

Airlangga Said, his own party will continue to encourage the growth of petrochemical industry in Indonesia. "This is because it plays an important role in meeting production needs in other manufacturing sectors," he explained.

As is known, Genting Energy intends to invite investors from China to develop petrochemical area in Bintuni.

Previously, Wandy Wanto said, investors will buy gas generated from Kasuri Field, West Papua which is managed by Genting Oil Kasuri Pte. Ltd.

The resulting gas will be processed into methanol which is then used for the production of polyethylene, polyethylene terephthalate (PET), to polypropylene used as plastic raw materials and packaging.

"We report [to the Minister of Industry] there are investors who will go downstream so that upstream can also be road," he said some time ago.

Wandy said investors will begin the investment phase in March 2018. Under normal assumptions, the new petrochemical plant will start production in 2022.

The Ministry of Industry continues to encourage the growth of the petrochemical industry in Indonesia as it plays an important role in meeting production needs in other manufacturing sectors.

With its capital-intensive, technology-intensive, and energy-conscious nature, the development of the petrochemical industry needs to get special attention from the government.