South Korea’s Lotte Group is planning to invest up to US$5 billion in a petrochemical project in Banten province, with construction expected to start next year. The investment is estimated to cost between US$3 billion to US$5 billion.
Lotte would also launch Lotteria, a fast-food chain, in Indonesia. Lotte has also recently stated its interest in acquiring a stake in Matahari Putra Prima, Indonesia’s largest retailer by market value, through its retail subsidiary. The deal was turned down by Matahari because Lotte’s offer was too low.
Indonesia targeting total realized investment to rise to IDR230 trillion rupiah this year from 208.5 trillion rupiah last year.
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