REPUBLIKA.CO.ID, JAKARTA - State-owned oil and gas company, Pertamina, will build a petrochemical refinery worth five billion USD. The new refinery can hold up to a million tonnes per year.

"In the next four months, Pertamina will appoint a partner for the project," Vice President of Corporate Communication at Pertamina, Ali Mundakir, said on Wednesday. The candidates for the partner are SK Global Chemical, PTT Global Chemical and Mitsubishi Corporation. Pertamina will dominate 51 percent of the share.

Government has given green light for the building as it can decrease Indonesian dependence of imported petrochemical. Indonesia currently imports petrochemical worth 50 trillion IDR per year.

Marketing Director of Pertamina, Hanung Budya, said the petrochemical refinery would produce 200,000 tonnes of PVC, 250,000 tonnes of ethylene, and 350,000 tonnes of polypropylene and 400,000 tonnes of polyethylene.

"We aim to acquire 30 percent of the market," Budya said, predicting that national petrochemical market will reach 289 trillion IDR. For the next step, Pertamina is ambitious to acquire 80 percent of petrochemical market in 2025.

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