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.