Salim Group to go into petrochemicals<\/p>\n
JAKARTA (JP): The Salim Group, through its subsidiary PT
\nSulfindo Adiusaha, is diversifying into the intermediate
\npetrochemical industry by establishing joint ventures with
\nJapanese and Hong Kong partners.<\/p>\n
One of the joint ventures, PT Satomo Indovyl Monomer, will
\nproduce ethylene dichloride (EDC) and vinyl chloride monomer
\n(VCM) for PT Satomo Indovyl Polymer, the other joint venture to
\nbe established.<\/p>\n
Satomo Indovyl Monomer, owned 51 percent by PT Sulfindo
\nAdiusaha, 25 percent by Sumitomo Corp. of Japan and 24 percent by
\nBrenswick Ltd. of Hong Kong, will invest US$100 million into the
\nconstruction of its petrochemical plant with a production
\ncapacity of 100,000 tons a year. Satomo Indovyl Polymer, 50
\npercent owned by PT Sulfindo Adiusaha, 25 percent by Sumitomo
\nCorp. and 25 percent by Tosoh Corp. of Japan, will produce 70,000
\ntons of PVC per annum with an investment of $60 million.<\/p>\n
The agreements to establish the two new joint ventures were
\nsigned here Monday by Hartono Gunawan of Salim Group, Andi
\nHartandi of Brenswick, Y. Kaneshige of Tosoh and S. Noguchi of
\nSumitomo.<\/p>\n
The two new companies will soon begin construction of their
\nplants, which are expected to start operating by the second half
\nof 1997.<\/p>\n
Hartono explained that Salim Group plans to overcome the
\nscarcity of VCM in the country by establishing the plant.
\nIndonesia imported 115,000 tons of VCM in 1994 to meet its
\ndemand, estimated at 250,000 tons.<\/p>\n
Presently, PT Asahimas Subentra Chemical is the country's only
\nproducer of VCM with an annual production capacity of 150,000
\ntons.(32)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/salim-group-to-go-into-petrochemicals-1447893297",
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