Huge petrochemical project to be developed in Gresik

Tiara Energy Group and Samudera Semar Group will soon develop a giant integrated petrochemical project in the Gresik industrial area in East Java with total investment of around Rp 59 trillion. Investor Daily reported Monday.

The Indonesian Association for Olefin and Plastics? (Inaplas) secretary general Budi Susanto said that a petroleum processing plant to be built by Tiara Energy Group would have an output capacity of 300,000 barrels per day. The output will be used to supply a petrochemical plant in Gresik.

The petrochemical plants to be constructed will include an oil petroleum processing plant that needs an investment of Rp 54 trillion or about US$6 billion and a plastic ore plant with an investment of Rp 5 trillion, Budi said.

Gresik industrial area?s (KIG) president director Zubeir Halim said that the petroleum processing plan will be built by Tiara Energy Group. While, the plastics ore plant will be built by PT Samudera Semar Group.

The construction of the mega project would start next year, he said. (*)