There are strong rumours circulating that the hopelessly fragmented Indonesian petrochemical industry might undergo some more restructuring.
This would follow Titan Petrochemical’s purchase of troubled polyethylene producer PT Peni, now renamed PT Titan, for a bargain price.
Common ownership between sole cracker operator Chandra Asri and its numerous downstream companies would go a long way to resolving the country’s flawed petrochemical economics.
Meanwhile, talk of adding olefins capacity in Indonesia has gone very quiet. This time last year, there were cracker projects reported to be under evaluation.