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Three investors interest to develop petrochemical plants in nearby Masela block

JAKARTA (RambuEnergy.com) – Indusry Ministry reveals that at least three investors have expressed interest to develop petrochemical industry in an island near Masela Block, in the Arafura Sea, Maluku province.

Director General for Chemical, Textile and Miscellaneous industry of the ministry Achmad Sigit Dwiwahjono said the three investors who are interested are Sojitz of Japan, Elsoro Multi Pratama and Indorama Group.

However, the three investors are still awaiting for the decision of the government where the location of Masela LNG plant facilities will be built as well as the price of LNG. He said, the investors want gas price to be pegged at around US$3 per MMBTU.

Sigit said the government has also set out a plan to create downstream industry, including petrochemical, in an onshore area nearby the Masela block.

The industry ministry, he said, will continue to coordinate with the Energy and Mineral Resources Ministry about the progress of Masela block. (*)

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