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Honam Firms up Plans for Petchems Complex in Indonesia

10:41 AM MST | February 9, 2012 | Natasha Alperowicz

Honam Petrochemical has firmed up plans to invest in a petrochemical complex in Indonesia. The company announced in March last year that it is planning to expand in Southast Asia, which would include investing in a manufacturing complex in Indonesia. It did not give details at the time, however.  Honam has recently signed a memorandum of understanding with Krakatau Steel, Indonesian state-owned steel producer, which would provide  land at Cilegon for the new complex. Honam plans to invest up to $5 billion to build the complex, says Kim Gyo-hyun...

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