Lotte Chemical Titan’s Indonesian unit secures RM10.58bil loan to fund expansion project

KUALA LUMPUR: Lotte Chemical Titan Holding Bhd (LCT), via its subsidiary, PT Lotte Chemical Indonesia (LCI), has entered into a 12-year US$2.4 billion (about RM10.58 billion) term loan facility with The Export-Import Bank of Korea, Korea Trade Insurance Corporation and other commercial banks.

In a statement with Bursa Malaysia today, LCT, the first stand-alone polyolefins producer in Malaysia, said the loan facility was to fund the development of its integrated petrochemical facility, the Lotte Chemical Indonesia New Ethylene project (Line project).