Dow cancels RI project

Dow cancels RI project

SINGAPORE (Reuters): Dow Chemical said yesterday it has put
plans to build an olefins complex in West Java, Indonesia on
hold.

"The project is put on hold due to economic conditions in
Indonesia," Brian Trotter, Dow Chemical's Indonesia country
general manager said.

He added the company was reviewing its plans.

Trotter said the proposed project was to have been a joint
venture with Indonesia's PT Gajah Tunggal.

He said the plant was originally scheduled for completion in
2002 and was to produce 600,000-900,000 tons per year of
ethylene.

He declined to reveal what investments the company would have
put into the project.

Trotter said later at a news conference that Dow Chemical saw
no need to make any kind of provisions for its operations in
Indonesia.