PT Polytama Propindo (Polytama), a petrochemical company that has been producing polypropylene resin for 29 years, fully understands its responsibility to contribute to the development of Indonesia’s petrochemical industry. This commitment is realized through a synergy with PT Indonesia Infrastructure Finance (IIF), which has provided a financing facility of USD 38.55 million, equivalent to IDR 626 billion, for the development of Jetty and Spherical Tank infrastructure.
The financing is allocated to support the Jetty and Spherical Tank project, which is crucial for distributing propylene to support the production of polypropylene from Polytama’s existing plant, with a capacity of 300,000 tons per year, and the expansion project to establish a new polypropylene plant with the same capacity.
As part of the TubanPetro and Pertamina Group, Polytama remains committed to supporting the growth of domestic industries, particularly the petrochemical sector, by developing infrastructure and increasing production capacity to promote national independence. Polytama is recognized as a key industry player with significant potential to meet domestic polypropylene (PP) needs and reduce reliance on imported plastic resin. This effort aligns with Polytama’s goal of increasing production capacity while contributing to foreign exchange savings.
“The signing of the term loan facility agreement with IIF is aimed at supporting our project, specifically the Jetty and Spherical Tank development. This infrastructure project is intended to support our major initiative, the Polypropylene Plant Balongan (PPB) project, which is currently in the final engineering design phase. Insya Allah, the EPC phase will commence next year. The jetty and tank facilities are being prioritized to support both our existing plant and the upcoming PPB project,” said Joko Pranoto, President Director of Polytama.
He added, “We deeply appreciate the trust placed in us by IIF. We are committed to managing this trust responsibly and completing the project on schedule to support our future initiatives.”
Interim Chief Executive Officer and Chief Financial Officer of IIF, Rizki Pribadi Hasan, stated, “The synergy between IIF and Polytama aligns with Government Regulation (PP) No. 66/2019, aimed at strengthening and integrating the domestic petrochemical industry. Furthermore, this project will enhance Polytama’s supply chain and lead to a more integrated system, reinforcing Polytama’s position in the petrochemical industry.”
This collaboration is a tangible example of strong synergy in supporting the government’s program to achieve energy self-sufficiency and strengthen the competitiveness of the national industry.
“We highly appreciate the trust and support extended to Polytama. We hope that the synergy between Polytama and IIF continues to grow stronger in the future to achieve our shared goals,” concluded Joko Pranoto, President Director of Polytama.
