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The Export-Import Bank of Korea and Korea Trade Insurance Corporation jointly support LOTTE Chemical’s Indonesia Project
2023.03.22
The Export-Import Bank of Korea and Korea Trade Insurance Corporation
jointly support LOTTE Chemical’s Indonesia Project
■ LOTTE Chemical Indonesia completes procurement of funds for massive petrochemical complex... Completed procurement of funds through loans and guarantee from the national policy financial institute KEXIM and insurance support from K-SURE
■ Focused on early stabilization of the project by easing initial repayment burdens when completing construction of the plant through a long-term loan of approximately 2.4 billion USD... Spurring establishment of overseas production base that rise up to the trust and belief of the market
■ LOTTE Chemical LINE Project joined by large Korean engineering companies and partners currently engaged in plant construction and pier construction with the goal of completion by 2025... Aiming for global competitiveness through business expansion in Indonesia and Southeast Asian countries
■ Focused on early stabilization of the project by easing initial repayment burdens when completing construction of the plant through a long-term loan of approximately 2.4 billion USD... Spurring establishment of overseas production base that rise up to the trust and belief of the market
■ LOTTE Chemical LINE Project joined by large Korean engineering companies and partners currently engaged in plant construction and pier construction with the goal of completion by 2025... Aiming for global competitiveness through business expansion in Indonesia and Southeast Asian countries
LOTTE Chemical’s Indonesian subsidiary PT LOTTE Chemical Indonesia completed procurement of outside funds necessary for the construction of the petrochemical complex that is currently being built in Banten Province, Indonesia.
It announced that through financial support of loans, guarantee, insurance, etc. of national policy financial institutes such as KEXIM and K-SURE, it entered a 12-year loan agreement for 2.4 billion USD from 12 global financial institutes.
Despite the difficult external conditions, LOTTE Chemical procured stable long-term funds of 2.4 billion USD to successfully pursue the establishment of an overseas production base, and it will upgrade global competitiveness through business expansion in Indonesia and Southeast Asian countries.
The LINE Project, where a total of approximately 3.9 billion USD will be invested, is a massive petrochemical complex project that will produce 1 million tons of ethylene and 520,000 tons of propylene, etc. annually, and it aims at completing mechanical construction and beginning commercial production by 2025.
With the support of national policy institutes, it is now able to increase its competitiveness in Indonesia, while also promoting synergy effects with the polyethylene production plant of LOTTE Chemical Titan’s subsidiary, PT LOTTE Chemical Titan Nusantara.
Smaller and medium construction companies of Korea participating in this LOTTE Chemical project are also expected to experience stable entry into overseas markets and achieve revenue worth approximately 700 million USD.
It announced that through financial support of loans, guarantee, insurance, etc. of national policy financial institutes such as KEXIM and K-SURE, it entered a 12-year loan agreement for 2.4 billion USD from 12 global financial institutes.
Despite the difficult external conditions, LOTTE Chemical procured stable long-term funds of 2.4 billion USD to successfully pursue the establishment of an overseas production base, and it will upgrade global competitiveness through business expansion in Indonesia and Southeast Asian countries.
The LINE Project, where a total of approximately 3.9 billion USD will be invested, is a massive petrochemical complex project that will produce 1 million tons of ethylene and 520,000 tons of propylene, etc. annually, and it aims at completing mechanical construction and beginning commercial production by 2025.
With the support of national policy institutes, it is now able to increase its competitiveness in Indonesia, while also promoting synergy effects with the polyethylene production plant of LOTTE Chemical Titan’s subsidiary, PT LOTTE Chemical Titan Nusantara.
Smaller and medium construction companies of Korea participating in this LOTTE Chemical project are also expected to experience stable entry into overseas markets and achieve revenue worth approximately 700 million USD.
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