JAKARTA - PT Lotte Chemical Titan Tbk (FPNI) targets to increase its polyethylene production volume by 10% to fulfil domestic demand.
"Although the conditions are uncertain and not so positive, internally we are targeting a growth of 5% -10%," said Kang Jonwon, Director of PT Lotte Chemical Titan Tbk (FPIN), as quoted from information disclosure published on Wednesday (1/7).
According to him, the increase in production is needed to meet the domestic needs, which are still very large. Although the company exports some of its products too, the export portion is still smaller than domestic demand. The company's domestic market share for polyethylene, he said, reached 25%.
This year, he said, management allocated capital expenditure of US$ 3 million. The budget will be used for the addition and rejuvenation of equipment. (LK/AR)