Mitsubishi Chemical sells Indonesian PTA business to Lintas Citra Pratama, said the company.

Mitsubishi Chemical Group Corporation resolved at its Executive Officers' Meeting held that it will transfer shares of PT Mitsubishi Chemical Indonesia (President: Hideyuki Matsuda; location: Special Capital Region of Jakarta, Indonesia, hereinafter, “MCCI”), which operates the pure terephthalic acid (hereinafter, "PTA") business to PT Lintas Citra Pratama.

The two group companies of Mitsubishi Chemical Group, Mitsubishi Chemical Corporation (Representative Directors: Kouji Eguchi, Manabu Chikumoto, Head Office: Chiyoda-ku, Tokyo, hereinafter, "MCC"), and PT Lintas Buana Kasei (Representative Director: Shinichiro Hatano, Head Office: Banten Province, Indonesia (hereinafter, “LBK”) own the shares of MCCI.

It is reminded that Proman has signed an MoU with Mitsubishi Corporation to explore building a world-scale ultra low-carbon ammonia facility in Lake Charles, Louisiana. The proposed plant would produce approximately 1.2 million tonnes per year of clean ammonia by incorporating state-of-the-art carbon capture and sequestration technology. The proposed ultra low-carbon ammonia facility will be located on Proman's existing site in Lake Charles, adjacent to Proman's natural gas to methanol plant which is also under development.

Source: MRC