Operating through its local entity, PT STL Chemical Indonesia, the Shenzhen-listed producer has established project command operations within the Manyar industrial corridor, adjacent to the Java Integrated Industrial and Ports Estate (JIIPE).
Talks are underway with units of Thailand's PTT for a stake that would pair equity with crude supply contracts, giving ADNOC offtake rights to fuels produced at the facilities for resale into the regional market. A deal could materialize before the end of the year, sources said.
South Korea’s LG Chem is set to halt its No. 1 naphtha-fed steam cracker in Yeosu for a planned maintenance turnaround from the second half of October, deepening operational retrenchment across the domestic petrochemical sector.