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Lotte Chemical to Build $4 Billion Naphta Cracker Plant in Indonesia

lotte chemical

The Indonesian petrochemical operation of South Korean conglomerate Lotte Group is moving ahead on the fast-track to acquire land for a US$4 billion naphta cracker plant. Lotte Chemical Titan is building the new plant on a 40-hectare plot, near its already existing plant in Cilegon Banten, to increase its production capacity. The new plant is expected to take three to four years to build and reduce Indonesia’s dependence on imports of raw materials.

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Robust Growth for North American Robotics Market During First Quarter 2016

According to the Robotic Industries Association (RIA), the robotics market in North America has had a robust growth in terms of volume in the first quarter of 2016. The total number of robots ordered by companies in North America was 7,406 of the value of approximately $402 million. This represents a growth of 7% more than in the first quarter of 2015 in terms of units ordered. However, in terms of value it decreased by 8% as compared to that of the first quarter of 2015.

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