Michelin and PT Petrokimia Butadiene Indonesia (PBI) have inked a deal to create a joint venture to produce synthetic rubber.

Pending final investment decision, plant construction is expected to start in early 2015 with completion and start-up targeted for the beginning of 2017.

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“Michelin and PBI will combine in this partnership their expertise, bring significant synergies and create value both for the Indonesian and South East Asian markets,” said a Michelin statement.

“PT Petrokimia Butadiene Indonesia is the first Butadiene plant in Indonesia and a subsidiary of PT Chandra Asri Petrochemical Tbk, the largest vertically integrated petrochemical company in Indonesia.

“The Butadiene plant target for completion and commercial production in July, 2013.”

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