Indorama Ventures to invest $US 5billions in Indonesia

According to Thailand-based Indorama Ventures, it would invest US $5 billion in new ventures in Indonesia by 2014.

As revealed by the company, it would invest $2.2 billion in the domestic polyester and downstream coal industry, this year.

It would further channelize a sum of $2.8 billion for investment in the country’s petrochemical and oil and gas sector through 2014.

Presently, the firm is actively working on projects in Indonesia, involving investments up to five billion dollars, but then they are still reviewing the growth prospects and applications of these projects.

This year, the company would invest to construct a polyester plant in Purwakarta in West Java at a cost of $200 million.

After attaining all the other goals, the company plans a diversification in the oil and gas and petrochemical industries, and would engage itself in exploration and production.