The Jakarta Post
Publicly listed petrochemical firm PT Chandra Asri Petrochemical (TPIA) is eyeing a 26.3 percent increase in net revenue to US$2.4 billion on the back of increased capacity this year.
“With the assumption of same product price, we aim to see net revenue rise to $2.4 billion, as we’ve carried out significant expansion and expect to see the new capacity running 100 percent this year,” firm director Suryandi said in a media briefing.
The firm has invested $380 million since 2015 to increase ethylene production by 43 percent to 860,000 tons this year and will run the full capacity of it this year.
(Read also: Chandra Asri plans major expansion)
Ethylene is basic materials to produce other chemicals essential in producing plastics. The chemicals include polyethylene (PE), polypropylene (PP), butadiene and styrene monomer.
For net profit, meanwhile, the firm hopes to see 20 percent growth to $360 million in 2017.
Last year, amid low crude oil price, the giant enjoyed a surge in net profit to $300 million from $26.3 million in 2015. Low material price and high-end product price led to a 15 percent net-profit margin. (bbn)