Pertamina plans jv with PTT, partners with Chandra Asri

PTT Global Chemical (PTTGC; Bangkok) on Friday signed a memorandum of understanding with state-owned Pertamina (Jakarta) to invest jointly $5 billion in an integrated refinery and petrochemical complex on the island of Java, Indonesia. Further details were not disclosed but a formal agreement is due to be signed in April 2013. “Petrochemicals are one of Pertamina’s core growth pillars to achieve its 2025 vision as a world-class energy and Asian energy champion,” says Karen Agustiawan, Pertamina CEO. Pertamina plans to integrate five refineries with...

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