Established on August 21, 2019, with business focus according to its Articles of Association, i.e., wholesale trade and manufacturing by carrying out business activities to manufacture products from oil refineries and to trade solid and gas fuel. In October 2019, TPN signed a cooperation agreement with Polytama in connection with the extruder project financing, in the form of sale and lease back of extruder machineries and all the supporting tools.
In addition, TPN and Polytama has also entered into an agency partnership to sell Masplene® products, with the purpose of increasing Polypropylene production capacity for a period of 10 years. Armed with its experience in 2020, TPN is in the process of preparing to develop its capabilities to trade petrochemical products.
TubanPetro holds a relatively strategic position in Indonesia’s petrochemical industry, by controlling the market share based on the output produced by each subsidiary.