Kumho-Tri Polyta venture

Kumho-Tri Polyta venture

SEOUL (AFP): South Korea's Kumho Petrochemical Co. said yesterday it would build a US$200-million joint venture in Indonesia to produce synthetic rubber jointly with PT Tri Polyta.

Kumho and the Indonesian partner signed a letter of intent here for the plant, which will be capable of producing 50,000 tons of styrene butadiene rubber and 40,000 tons of polybutadiene rubber annually.

Kumho will control a 49 percent equity stake in the joint venture, while Tri Polyta will take up the remaining 51 percent, the Korean company said.