National

Singapore and Hong Kong to Build Chemical Factory in Cilegon
Monday, 28 March, 2005 | 16:28 WIB

TEMPO Interactive, Serang:Kuvera Energy Corporation Ltd from Singapore and Consoe Petrochemical Co Ltd from Hong Kong are planning to build a chemical Factory valued at US$1.65 Billion or Rp14.85 trillion in Cilegon, Banten.
These two companies founded PT Indo Olefin Petrochemical.
“We already sent letters of thanks to both investors who have chosen to invest in Banten,” Muhadi, Head of the Regional Investment Coordinating Board (BKPMD) for the Province of Banten, told members of the press in Serang, Banten, on Monday (28/3).

According to him, the central government via the Regional Investment Coordinating Board (BKPM) gave its permission in early February to PT Indo Olefin Petrochemical regarding this investment, with a three-year dead line.
The products to be produced will be ethylene, propylene, butadiene and pyrollysis garoline.
“This is surely the largest investment ever in Banten. If it is really happens, there will be many benefits both nationally as well as on a local scale.
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