Lotte to Invest in Indonesian Petrochemical Project

Lotte Group is planning to invest $5bn to develop a petrochemical project in West Java, Indonesia.

The South Korean company expects to start the construction of the plant in 2012 and complete it within four or five years, according to Reuters.

Lotte owns two petrochemical plants in Indonesia through Titan Chemicals, a Malaysian chemical maker that Lotte acquired in 2010 via its Honam Petrochemical unit.