IIF Distributes 38.55 Million US Dollars To Polytama, Strengthens Domestic Petrochemical Supply Chain

Photo: Doc. PT Indonesia Infrastructure Finance (IIF)

JAKARTA - PT Indonesia Infrastructure Finance (IIF) collaborated with PT Polytama Propindo (Polytama) through the distribution of financing worth 38.55 million US dollars.

The distribution of the financing is carried out for the development of jetty projects with pipes and sperical tanks with a storage capacity of 1x3,000 tons and supporting facilities.

Interim Chief Executive Officer/Chief Financial Officer IIF, Rizki Pribadi Hasan said, the synergy of IIF and Polytama is in line with Government Regulation (PP) no. 66/2019 to strengthen and integrate the domestic petrochemical industry.

"This project will strengthen Polytama's supply chain and lead to a more integrated system, thus strengthening Polytama's position in the petrochemical industry," he said, quoted Tuesday, December 31.

His party appreciates the trust and support given to Polytama in carrying out the Polypropylene Plant Balongan (PPB) project.

"Hopefully the synergy between Polytama and IIF will be more solid in the future in order to achieve common goals," said Joko Pranoto as President Director of Polytama.

This business development plan is also in line with the direction of the President of the Republic of Indonesia in optimizing the country's petrochemical industry as an effort to suppress imports of domestic polypropylene (PP) needs, which until 2023 is still dominated by imports of PP demand in the Indonesian market.

This collaboration is one real example of a strong synergy in supporting the government's program to create an independent energy sector in order to strengthen the competitiveness of the national industry.