The Jakarta Post
Jakarta: PT Chandra Asri Petrochemical, a chemical company owned by PT Barito Pacific and Siam Cement Group, is preparing for a new factory, which needs total investment of US$5 billion.
Chandra Asri president director Erwin Ciputra said on Sunday the company's subsidiary PT Chandra Asri Perkasa had begun the basic engineering design and aimed to finish it by the end of 2018. The final investment decision would be made in 2020 then the commercial operation would begin in 2024.
“As part of our growth strategy to meet the country’s growing petrochemical demand, Chandra Asri Perkasa was established in April 2017 to undertake a feasibility study of a second petrochemical complex, which is estimated to have total investment of around $4 billion to $5 billion," he said in a statement.
He added that Chandra Asri Perkasa had signed six license and engineering design agreements including with Chicago Bridge & Iron Company subsidiary Lummus Technology for a naphtha cracker and butadiene plant, GTC Technology for an aromatics recovery plant, Texplore for a high density polyethylene (HDPE) plant and Lyondellbasell for Low Density Polyethylene (LDPE) and Polypropylene (PP) plants.
"These technology licenses are a significant milestone reinforcing our plan to expand our petrochemical footprint. We are confident that the selected technologies will ensure robust productivity and efficiency for the new complex” Erwin said. -- JP