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Chandra Asri, RI wealth fund to partner to build chlor-alkali plant
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Chimneys stand tall at newly constructed gas processing plants operated by Chandra Asri in the industrial city of Cilegon in Banten, West Java. The plants produce methyl tert-butyl ether (MTBE) and butene. (Courtesy of Chandra Asri)
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ublicly listed PT Chandra Asri Petrochemical and Indonesia’s sovereign wealth fund INA will join hands to build a “world-class” chlor-alkali plant in Indonesia.
The wealth fund, alongside several other investors, will explore taking an equity stake in PT Chandra Asri Alkali, a subsidiary of Chandra Asri that has been specially established to carry out the project.
“By working together, we aim to significantly reduce Indonesia's import dependencies for caustic soda and bolster our nation's economic resilience,” said INA CEO Ridha Wirakusumah in a statement on Thursday.
Chandra Asri has signed a basic engineering and licensing agreement with a multinational Japanese chemical company Asahi Kasei Corporation for the plant’s development.
Once completed, the facility will be able to produce more than 400,000 tonnes of caustic soda and 500,000 tonnes of ethylene dichloride (EDC) annually, according to the firms.
Read also: Indonesia to propose limited free trade deal with US on critical minerals
Caustic soda can be used for alumina extraction, water treatment and the production of textiles, pulp, paper, soap and detergent.
