Lotte Chemical Titan Holding Bhd announced that the following agreements were entered into by its subsidiary PT Lotte Chemical Indonesia (LCI) LCI on 21 June 2022 with the various parties for the engineering, procurement and construction of an automatic warehouse and bagging area on part of the Company’s integrated petrochemical facility in Indonesia.
In a Bursa Filing, it said that it entered into various transactions for the Purchase Order notably the first transaction being with Lotte Data Communication Co Ltd ( LDCC) for offshore engineering and procurement of the automatic warehouse area.
Purchase Order with Lotte Engineering and Construction Ltd (LEC) for offshore engineering and procurement of the bagging area and construction Agreement with KINE PROJECT JO (being a joint operation formed under Indonesian law by LEC and PT Jaya Teknik Konstruksi, being the local contractor) for onshore construction of the automatic warehouse and bagging area.
LDCC had, on 21 June 2022, accepted a Purchase Order issued by LCI for offshore engineering and procurement of the automatic warehouse area for a contract price of USD33,590,000 or RM147,796,000 calculated at the exchange rate of USD1 to RM4.4000 as at the date of acceptance of the Purchase Order.
LEC had, on 21 June 2022, accepted a Purchase Order issued by LCI for offshore engineering and procurement of the bagging area for a contract price of USD6,200,000 or RM27,280,000 calculated at the exchange rate of USD1 to RM4.4000 as at the date of acceptance of the Purchase Order.
KINE PROJECT JO had, on 21 June 2022, entered into a Construction Agreement with LCI for onshore construction of the automatic warehouse and bagging area for a contract price of IDR432,100,000,000 or RM128,333,700 calculated at the exchange rate of IDR100 to RM0.0297 as at the date of the Construction Agreement.
