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Lotte Chemical Titan Holding Bhd. (LCTH; Kuala Lumpur, Malaysia) said its affiliates Lotte Chemical Indonesia (LCI) has signed a 10-year sale and purchase agreement with PT Lotte Chemical Titan Nusantara (LCTN) for the supply of approximately 350,000 metric tons per year of ethylene, as per Chemweek.
The total value of the contract is $2.9 billion. LCI is primarily engaged in the production of petrochemicals at its integrated complex at Cilegon, Indonesia. Its main business includes, among others, the manufacturing of ethylene, propylene, polyethylene and polypropylene, using naphtha as the primary feedstock.
LCI recently started up its new naphtha-fed steam cracker at Cilegon, designed to produce 1 million metric tons per year of ethylene and 520,000 metric tons per year of propylene.
In May this year, Lotte Chemical Titan signed a three-year sales contract with Aramco Trading Singapore Pte. Ltd., an affiliate of Saudi Aramco, for the purchase of naphtha. Under the agreement, Aramco will supply around 300,000-400,000 metric tons per year of naphtha
Lotte Chemical Titan is an affiliate of Lotte Chemical Corp. (Seoul, South Korea).
mrchub.com