Tongkun Petrochemical Indonesia, a joint venture of Hong Kong Huacan International Trading and Shanghai Qinghong Industrial, is planning to launch a petrochemical complex in North Kalimantan, Indonesia. The USD 8.6-billion complex will include a 4.3 mta refinery, approximately 5 mta of paraxylene and 500 kta of polyethylene. The project is subject to Chinese government approval. Hong Kong Huacan hold a 90% stake in the joint venture, with Shanghai Qinghong holding the remaining 10% share.