ASIATODAY.ID, CILEGON — President Prabowo Subianto officially inaugurated the Lotte Chemical Indonesia (LCI) petrochemical complex in Cilegon, Banten Province.
With a total investment of USD 3.9 billion (approximately IDR 62.4 trillion), the facility is now recognized as the largest petrochemical plant in Southeast Asia, marking a historic leap forward in Indonesia’s industrial downstreaming program.
The inauguration ceremony began with the national anthem Indonesia Raya, followed by a joint prayer and a video presentation titled “Integrated Petrochemical Downstreaming Project,” showcasing the development journey of the LCI complex since its groundbreaking in 2016.
In his address, President Prabowo Subianto expressed appreciation to all parties involved in the project and highlighted that major investments like Lotte Chemical Indonesia can only succeed when built on trust and the rule of law.
“It is an honor for us to be a trusted partner. When international investors come here with funds earned through decades of hard work, it means they believe in us. We must safeguard that trust,” President Prabowo emphasized.
He further underscored that Indonesia’s large-scale national development must be founded on good governance, transparency, and integrity.
“We must set an example for future generations through clean and honest governance. Only then can we achieve sustainable national development,” he added.
70% of Production for Import Substitution, 30% for Export
Minister of Energy and Mineral Resources, Bahlil Lahadalia reported that the new LCI facility will play a crucial role in reducing Indonesia’s dependence on imported petrochemical materials.
“This plant will enable Indonesia to cut imports by around 70 percent, while 30 percent of total production will be exported to global markets. The total annual revenue is estimated at USD 2 billion, with around USD 1.5 billion from domestic sales,” Bahlil explained.
The plant processes naphtha into various upstream and downstream products, including plastic bottles, cables, pipes, and automotive bumpers. Its operation is expected to strengthen domestic supply chains, improve trade balance performance, and generate thousands of new jobs in the region.
A New Chapter in Indonesia’s Downstream Industrial Growth
The inauguration of Lotte Chemical Indonesia represents a key milestone in the government’s commitment to advancing industrial downstreaming and transforming Indonesia into a more value-added economy.
It also reinforces strategic cooperation between Indonesia and South Korea through the Lotte Group, while positioning Indonesia as a vital player in the regional petrochemical supply chain.
Attending the ceremony were Acting Ambassador of the Republic of Korea to Indonesia Park Soo Deok, Lotte Group Chairman Shin Dong Bin, National Police Chief General Listyo Sigit Prabowo, Banten Governor Andra Soni, and Cilegon Mayor Robinsar.
President Prabowo concluded his remarks by reaffirming the government’s dedication to ensuring the long-term success of major national projects.
“We must protect and secure this strategic project because it brings tremendous benefits for all Indonesian people,” he said. (AT Network)
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