Press Statement of President of the Republic of Indonesia during the Inspection of Petrochemical Industry’s Development, PT Lotte Chemical Indonesia, Cilegon City, Banten Province, September 12, 2023

President of the Republic of Indonesia (Joko Widodo)

Good morning. So, today we are at the factory of PT Lotte Chemical. This project has been started since 2020 and will be completed in 2025. The progress has been great, it has reached 73 percent, and it involves a huge investment approximately amounting to Rp60 trillion, USD3.9 billion, Rp60 trillion.

Currently, so many workers are working here, 13 thousand workers. After it is completed, the factory will produce ethylene, polypropylene, benzene, and other 17 products. The good news is that it will also serve as import substitution, 70 percent for local use, and 30 percent for export. Both are good, because the products for local use will substitute petrochemical products that we usually imported. Both are good. I think these industries are just what we need.

Journalist

When is the target date for the completion, Sir?

President of the Republic of Indonesia (Joko Widodo)

In March 2025, it will be completed. So, we have just checked it, and PT Lotte Chemical said that in March 2025, the commissioning will be performed and production will be started.

Journalist

[What countries] will be the export market, Sir?

President of the Republic of Indonesia (Joko Widodo)

Please ask PT Lotte.

Journalist

Sir, for the waste, will it be used for other products or dumped, Sir?

President of the Republic of Indonesia (Joko Widodo)

Some will be utilized for generating electricity, about 50 megawatts. Since the electricity used in this factory is about 100 megawatts, so, half of the electric power will be produced by PT Lotte itself. Thank you. Thank you.

(AW/LW)