Lotte Chemical Titan Holdings Bhd (LCT) has awarded two contracts worth $1.64 billion for the engineering and construction of its Lotte Chemical Indonesia New Ethylene (LINE) project in Cilegon, Banten province, Indonesia. LCT said in a bourse filing that its subsidiary PT Lotte Chemical Indonesia (LCI) had issued two conditional letters of award (LOA) to Lotte Engineering & Construction Co Ltd (LEC).
According to the LOAs, LEC will construct petrochemical plants, buildings, and facilities for part of the LINE project for a contract sum of $755 million. LEC will also carry out the engineering and supply of equipment, materials, supplies, systems, and spare parts for a contract sum of $890.6 million. LINE includes a cracker that will convert naphtha and LPG to produce up to 1 million tons/year of ethylene and 520,000 tons/year of propylene. The cracker will provide feedstocks to LCT’s existing three polyethylene (PE) plants at the site.
