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 resultsChandra Asri secures $265m for naphtha cracker
Listed petrochemical firm PT Chandra Asri Petrochemicalhas secured financing facility to ensure that its expansions projects arecarried out
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!
L
isted petrochemical firm PT Chandra Asri Petrochemicalhas secured financing facility to ensure that its expansions projects arecarried out.
The company announced on Monday that it had obtained loans amounting to US$265 million from various banks, namely Bangkok Bank PCL Jakarta branch, the Siam Commercial Bank PCL, Indonesia Eximbank, DBS Bank Ltd., and Deutsche Bank AG Singapore branch. The loan, which will mature in seven years, will be used to partly finance the capital expenditure needed for Chandra Asri's naphtha cracker expansion.
The company is planning to increase the production capacity of ethylene to 860,000 kilotons per year from the previous 600,000 kilotons in an expansion project worth $380 million.
The company recently conducted a preemptive rights issue in which it obtained $127.9 million, allocated to support the project, which is expected to be completed by the end of 2015.
Apart from higher ethylene production, the project will also see a boost in its annual production capacity of propylene by 150,000 tons to 470,000, pyrolysis gasoline by 120,000 tons to 400,000, and mixed C4 by 95,000 tons to 315,000.
The company said earlier that its growing production would help it become more self-sufficient in its supply of propylene for its polypropylene plant and mixed C4 for its butadiene plant.
