Sichuan Hebang to Build US$800 Mln Petrochemical Plant in JIIPE

By Editorial Team 01/09/2023
ilustrasi petrokimia
Summary

The Java Integrated Industrial and Port Estate (JIIPE) Special Economic Zone, owned by PT AKR Corporindo Tbk (AKRA), has welcomed a new investor.

On Aug 30, a company from China, Sichuan Hebang Biotechnology Co, signed a Conditional Sales and Purchase Agreement (CSPA) with AKRA’s subsidiary, PT Berkah Kawasan Manyar Sejahtera (BKMS), regarding the purchase of land to build a petrochemical factory in JIIPE.

According to an information disclosure on the Indonesia Stock Exchange, AKRA stated that Hebang would buy 67 hectares of land for the construction of a chemical factory. With an investment of US$800 million, Hebang will produce sodium carbonate, ammonium chloride, and glyphosate.

AKRA Corporate Secretary Suresh Vembu said the land handover would be completed in 2023. If this transaction is finalized, JIIPE’s land sales target of 70―75 hectares could be surpassed. “The land sales target is very good, which has now reached 97 ha,” Suresh said on Thursday.

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