Danantara in Talks with Lotte for Cilegon Petrochemical Project Stake

Ongoing Negotiations for Significant Investment

Danantara is currently engaged in negotiations with Lotte, a South Korean conglomerate, regarding a potential 25-30% stake in the Cilegon petrochemical project. According to Danantara CEO Rosan Roeslani, the discussions are ongoing, with the shareholding percentage still being deliberated. The initial proposal suggested a 35% stake, but current negotiations indicate a slightly lower percentage.

Investment Details and Implications

The investment in the Cilegon petrochemical project is being managed by Danantara, with the exact percentage of shareholding still under negotiation. The project represents a significant opportunity for Indonesia to develop its petrochemical industry, with potential benefits including job creation and economic growth. The involvement of Lotte, a major Korean conglomerate, brings substantial expertise and resources to the project.

Strategic Significance

This investment is part of Indonesia's broader strategy to attract foreign investment and develop its industrial sector. The petrochemical industry is crucial for various downstream industries, including plastics, textiles, and other manufacturing sectors. The successful completion of this project could have positive implications for Indonesia's economic development and industrial growth.