Lotte Chemical Titan secures $3 billion ethylene supply deal in Indonesia

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By Mohi NarayanMalaysia's Lotte Chemical Titan said on Monday that its Indonesia-based subsidiary has agreed to a 10-year ethylene supply deal worth around $3 billion with its downstream petrochemical producer, Lotte Chemical Indonesia Nusantara. Lotte Chemical Indonesia (LCI), which recently commissioned a cracker in Indonesia’s Banten province, will sell 350,000 tonnes of ethylene annually to Lotte Chemical Indonesia Nusantara (LCTN) beginning in September.Lotte Chemical Titan indirectly controls a 92.5% stake in Lotte Chemical Titan Nusantara.Lotte Chemical Corp’s KRX:011170 large-scale petrochemical plant, LCI, in Banten province, is 51% owned by Lotte Chemical Titan.

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