Entity

PT Tuban Petrochemical Industries (TubanPetro) is an integrated and leading national petrochemical holding company in Indonesia. The company was established on March 16, 2001, and is headquartered at Gedung Midplaza 2, 21st Floor, Jl. Jend. Sudirman Kav. 10-11, Central Jakarta, 10220, Indonesia. TubanPetro operates as a holding entity, overseeing several subsidiaries in the petrochemical sector, including PT Polytama Propindo and PT Trans-Pacific Petrochemical Indotama (TPPI).

TubanPetro’s development accelerated after the Indonesian government converted TubanPetro’s multi-year bond debt into shares through Government Regulation No. 66 of 2019. This conversion allowed the government and PT Pertamina (Persero), Indonesia’s state-owned energy company, to become the majority shareholders, marking a strategic move to strengthen the country’s petrochemical industry and reduce reliance on imports. The company’s vision is to establish an integrated national petrochemical cluster, supporting domestic industry growth and economic advancement.

TubanPetro’s main activities include managing and developing its subsidiaries to expand domestic petrochemical production capacity, particularly in aromatics and olefins, which are essential raw materials for various industries.

As of December 31, 2024, the shareholding structure of PT Tuban Petrochemical Industries (TubanPetro) is as follows:

• PT Pertamina (Persero): 63%
• Government of Indonesia (Ministry of Finance): 35%
• Others: 2%

This structure reflects the post-2019 conversion of TubanPetro’s multi-year bond debt into equity, which enabled the government and Pertamina to become the primary shareholders.