The Moment President Prabowo Subianto Inaugurated A Petrochemical Factory Worth IDR 62.4 Trillion

BANTEN - President Prabowo Subianto officially inaugurated the Lotte Chemical Indonesia (LCI) factory in Cilegon City, Banten Province, Thursday, November 6.

The factory is a project to strengthen the government's efforts in terms of downstreaming the national industry.

In his remarks, President Prabowo expressed his appreciation for the development of this strategic project.

The Head of State also encourages support for investments that can provide shared benefits.

Meanwhile, in his report, the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia reported that this strategic project had an investment value of USD 3.9 billion or around IDR 62.4 trillion.

This value makes it one of the largest petrochemical investments in the Southeast Asia region. In this factory, raw materials in the form of naphta are processed into upstream and downstream products to further become important raw materials for the manufacture of products ranging from plastic bottles, cables, to car bumpers.

The presence of this factory is expected to encourage downstream industrial growth, increase the trade balance, and have a positive impact on the surrounding community.

Also attending the inauguration of the LCI were the Acting Ambassador of the Republic of Korea to Indonesia Park Soo Deok, the ministers of the Red and White cabinet, the National Police Chief General Listyo Sigit Prabowo, the Governor of Banten Andra Soni, the Mayor of Cilegon Robinsar, and the Lotte Group Chairman of Shin Dong Bin.