What is BenzoPetrochem’s business model?
Posted June 01, 2018 07:58:33A company called Benzo Petrochem is building a huge new refinery in Indonesia.
But before it gets started, it has to get its hands on a huge number of raw materials that are needed to make petrochemical products, including crude oil, petrolytes, chemicals, and other fertilizers.
BenzoPetraemec’s website says it is building the refinery on Indonesia’s southern island of Bali.
It says it will start producing petro chemicals in 2021, and it plans to import more than 30,000 metric tons of raw material.
It’s a big step in Indonesia’s efforts to become a global leader in biofuels and biofuel production.
The company says it expects to employ at least 1,000 people at the new refinery.
But it isn’t clear how many of those workers will actually work at the plant.
The country’s government is paying $20 billion to buy the raw materials from Benzo, but that amount is not the total amount it expects Benzo to pay for the materials, as it’s working with other buyers.
The Jakarta Post reports that Benzo is trying to use the refinery to expand its operations in the country, where the country’s production is limited.
But in an interview with The Next World News, a government official in Bali, who spoke on condition of anonymity, told the newspaper that Benzopec was still trying to negotiate a better price.