Posted in | News | Petrochemicals

Indonesian Polyethylene Plant Sold to Indika

Apr 29 2003

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Indonesian polyethylene manufacturer PT Peni has been sold to local group Indika for $50 million.

The 450,000tpa manufacturing facility located in Merak, West Java was commissioned in 1990, with two reactors and a capacity of 250,000tpa. Capacity was increased in 1998 with the installation of a third reactor.

The plant was owned by BP who held a 75% share and Mitsui and Sumitomo, who both held 12.5% shares.

The plant produces a full range of HDPE and LLDPE resins and has a workforce numbering approximately 360, which are all expected to be retained.

For more information on polyethylene, click here.

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