TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsDanantara, INA to inject $200m into Chandra Asri’s new plants
The first phase is projected to have an annual production capacity of 400,000 tonnes of caustic soda and 500,000 tonnes of ethylene dichloride (EDC), with operations targeted to commence in 2027.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Chandra Asri's head office in West Jakarta, in an undated photo. (Chandra Asri/-)
S
tate asset fund Danantara, along with the country’s sovereign wealth fund Indonesia Investment Authority (INA), have signed an investment agreement to jointly inject US$200 million into a $800 million chlor-alkali and ethylene dichloride (CA-EDC) project developed by local petrochemical giant Chandra Asri Group in Cilegon, Banten.
According to a statement on Tuesday, the Conditional Share Subscription Agreement (CSSA) is following up on the previous Memorandum of Understanding which was signed in June last year.
The CA-EDC plants would be developed and operated by PT Chandra Asri Alkali (CAA), a subsidiary of Chandra Asri Group, and is targeted to commence operations in 2027.
The project is designed to reduce Indonesia’s reliance on imports of key chemical raw materials, with its first phase projected to have an annual production capacity of 400,000 tonnes of caustic soda and 500,000 tonnes of ethylene dichloride (EDC).
Caustic soda is known to be used in the production of soap and detergents, alumina refining and paper manufacturing, while EDC is a key raw material for the construction and packaging industries.
Read also: Danantara breaks ground on $7b downstream industry projects
Danantara chief investment officer Pandu Sjahrir said the agreement underscored the agency’s role in backing strategic domestic industries.
