Industry News

Indonesia’s petrochemical industry to seek investment in Taiwan

Taiwan: The investors from Taiwan has are ready to invest in the petrochemical business in Indonesia as per the Investment Coordinating Board (BKPM) of the Republic of Indonesia. The investors from Taiwan are expected to construct two manufacturing facilities for the manufacture of ammonia and mega methanol that would cover an area of 10 hectares each. The company is looking for a suitable location where raw material is available in abundance.
A USD2.5 billion investments for the two facilities would include production in two phases. 600 thousand tonnes of ammonia would be produced annually in the first phase and 1.8 million tonnes of mega-methanol would be produced in second phase. The investment in the above mentioned projects would also contribute to meet the country’s investment realization target for the year 2016.

TechSci depicts that the on completion, the production capacity of ammonia and mega methanol would increase in Indonesia and it would consequently increase the production capacity of consumer textile, industrial textile, engineering plastic, resin, rubber and acrylic fibre in the country, this would further strengthen the position of Indonesia in global petrochemical industry.

According to TechSci Research report, Global Textile Chemicals Market Forecast and Opportunities, 2020”, global textile chemicals market is anticipated to witness a moderate growth during 2015-20 on the account of increasing  g per capita textile consumption coupled with rising demand for superior quality textile from consumers, across the globe. The global market for textile chemicals is anticipated to witness a CAGR of over 3.5% through 2020.

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