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View all search resultsRI ramps up petrochemical drive as Prabowo inaugurates Lotte plant
At the heart of the plant is a naphtha cracker with a capacity of 3 million tonnes per year, capable of producing 1 million tonnes of ethylene and 520,000 tonnes of propylene annually.
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President Prabowo Subianto (center) and LOTTE Group chairman Shin Dong-bin (second left) officiate the inauguration of the Lotte Chemical Indonesia petrochemical plant in Cilegon, Banten, on Nov. 6, 2025. The strategic facility is poised to significantly reduce Indonesia's import dependency for essential raw materials. (Biro Pers Sekretariat Presiden/Laily Rachev)
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resident Prabowo Subianto vowed to “support and protect” foreign investment, emphasizing its vital role in driving national development, as he inaugurated PT Lotte Chemical Indonesia’s new petrochemical plant in Cilegon, Banten. The firm is the local subsidiary of South Korean conglomerate Lotte Group.
Analysts say the US$3.9 billion facility marks a major leap for Indonesia’s petrochemical industry, helping close crucial gaps in raw material supply and laying the groundwork for reducing the country’s heavy reliance on imports.
At the event on Thursday, President Prabowo underscored the importance of protecting investors who place their trust and capital in Indonesia, saying they must feel secure and welcome to operate in the country.
“We must support foreign investment, let’s create mutual benefits,” he said. “They come here investing money earned through decades of hard work, and they trust us.”
Prabowo highlighted that attracting large-scale foreign investment depends on strong legal certainty and a corruption-free government, reaffirming his commitment to lead with integrity.
He also took a moment to commend his predecessor, former president Joko “Jokowi” Widodo, for initiating the project, calling on the public to appreciate the contributions of all past leaders.
Lotte Chemical’s new plant, first conceived in 2016 and breaking ground in 2022, spans a vast 110-hectare complex. At its heart lies a naphtha cracker with a capacity of 3 million tonnes per year, capable of producing 1 million tonnes of ethylene and 520,000 tonnes of propylene annually.
