Indonesia to Provide All-Out Guarantee for Lotte Chemical Project

By Editorial Team 14/03/2023
ilustrasi petrokimia
Summary

The Indonesian government expects the construction of the PT Lotte Chemical Indonesia (LCI) petrochemical factory to be completed in 2025.

Investment Minister Bahlil Lahadalia said the government would oversee the US$4 billion project with the help of a special team from the Police Criminal Investigation Agency. He emphasized that the Investment Acceleration Task Force must protect national projects from disturbances from the surrounding environment.

"When the LCI factory operates, we hope that its output will play a significant role as a substitute for imports which will save the country's foreign exchange reserves," he said Monday. Meanwhile, LCI president director Yim Dong Hee stated that the construction of this factory started in early 2022.

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