Banten. President Prabowo Subianto on Thursday inaugurated Lotte Chemical Indonesia’s new petrochemical plant in Cilegon, Banten -- a $3.9 billion facility that ranks among the largest of its kind in Southeast Asia.

The LCI complex marks a cornerstone in Indonesia’s efforts to attract large-scale foreign investment in advanced manufacturing, positioning the nation as a growing hub for petrochemical production in the region.

The inauguration ceremony featured the symbolic pressing of a siren button by Prabowo, accompanied by several cabinet ministers and Lotte Group Chairman Shin Dong-bin.

“I am proud to be here today. Thank you, Lotte. I wish you great success in Indonesia. We must safeguard this facility because it brings enormous benefits to our people,” Prabowo said in his speech.

Lotte Chemical Indonesia (LCI) operates under Lotte Chemical Corporation, a South Korean industrial conglomerate. The plant produces a range of chemical products, including aromatics, olefins, gasoline blends, pyrolysis fuels, and polymers -- key materials used in industries such as packaging, synthetic resins, electronics, and automotive manufacturing.

The project is expected to reduce Indonesia’s dependence on imported petrochemical feedstocks, strengthen the downstream manufacturing sector, and create thousands of direct and indirect jobs. It also represents a major step toward achieving greater self-sufficiency in the country’s chemical and industrial plastics sectors.

Senior officials attending the ceremony included Coordinating Minister for Economic Affairs Airlangga Hartarto, Energy and Mineral Resources Minister Bahlil Lahadalia, Industry Minister Agus Gumiwang Kartasasmita, Foreign Minister Sugiono, Investment Minister Rosan Roeslani, and Cabinet Secretary Teddy Indra Wijaya.