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The Bakrie-Ithaca Consortium Builds USD 2.8 Billion MethanoL Indutsry

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VIVA - A 2.8 billion US dollars worth of coal to Methanol consortium agreement has been signed by the collaborating companies of Bakrie capital indonesia inc ithaca resources inc and air products inc. The signing was held virtually on May 14th, 2020 and was attended by Adika nugraha the CEO of Bakrie capital indonesia inc Agus Projosasmito the President Director of Ithaca resources inc and Seifi Ghasemi, the President of air products.

The plan is to build an international scale of CTM processing facility in Batuta industrial chemical park which is located in bengalon east Kutai district east Kalimantan.The facility will be finished in 2024 and once it's fully operational it will produce nearly 2 million tons of Methanol per year with that amount producing capability it's expected to help the government's B30 biodiesel program and other chemical industries thus decreasing the country's dependency on imported methanol.

In addition the gasification will also produce the raw material for the liquefied petroleum gas, amonia, fertilizers and even power stations. Unlike coals gas is more eco friendly therefore the coal-fired power stations is not going to emit pollution as much as before hence the pollution to the air and the would can be reduced greatly.

With this collaboration we can expect many job opportunities the decrease of current account deficit and a new source for foreign exchanges.

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