TPPI plant to be completed in 21 months<\/p>\n
The Jakarta Post
\nJakarta<\/p>\n
After a five-year delay, the construction of East Java
\npetrochemical plant PT Trans Pacific Petrochemical Indonesia
\n(TPPI) will be resumed immediately and is projected to be
\ncompleted in 21 months, according to a senior official.<\/p>\n
President of state oil and gas company Pertamina, Ariffi
\nNawawi said on Sunday that the project would be resumed in early
\n2004. Pertamina partly owns the petrochemical plant.<\/p>\n
Last week, Japan's Mitsui & Co. and Sumitomo Mitsui Banking
\nCorporation agreed to provide some US$400 million in financing
\nfor the project. Ariffi signed the transaction in Tokyo.<\/p>\n
The construction project, located in Tuban area, was halted in
\n1998 following the regional economic crisis.<\/p>\n
The plant is designed with an installed production capacity of
\n500,000 tons of paraxylene per year, as well as 100,000 tons of
\northoxylene and toluene per year.<\/p>\n
Ariffi had said earlier that the resumption of the TPPI
\nproject was crucial for the country, as it would create jobs and
\nsave the huge amount of foreign exchange reserve used to import
\npetrochemical products for various domestic industries.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/tppi-plant-to-be-completed-in-21-months-1447899208",
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"sponsor": "Okusi Associates",
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