"We plan to invest US$3 billion to US$5 billion in the petrochemical industry," he said after meeting with President Susilo Bambang Yudhoyono at the Bogor Palace on Tuesday.
He said Lotte would start a feasibility study for the construction of the project this year and the project was expected to be completed in five years` time.
Chief of the Investment Coordinating Board (BKPM) Gita Wirjawan said Lotte would realize the investment plan in the near future.
"Hopefully, (the investment will materialize) this year. Should it happen this year, it will be extraordinary," he said.
Lotte Group was also mulling to invest in fast food business by opening outlets called Lotteria, he said.
Yet the investment in the fast food business was relatively small compared to the investment in the petrochemical project, he said.
Lotte Group is engaged in various business fields. The South Korean company has invested in Indonesia for a quite long time, with retail business as one of its priority businesses in the country. (*)
Editor: Kunto Wibisono
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