You are currently here: News » Industry » INDONESIA: Michelin and Petrokimia sign agreement to ...
Section: General
  • Written on 21.06.2013 - Industry
  • You have these options:
    • Print this article
    • Article as PDF

INDONESIA: Michelin and Petrokimia sign agreement to produce synthetic rubber

PT Petrokimia Butadiene Indonesia (PBI), a wholly-owned subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), and Compagnie Financière Groupe Michelin (Michelin), signed an agreement on 17 June 2013 to create a joint venture company, to produce synthetic rubber. The new company will be owned 55% by Michelin and 45% by PBI.

The total Investment is estimated at US$435 million. Pending final investment decision, plant construction is expected to commence in early 2015 with completion and start-up targeted for the beginning of 2017.

Michelin and PBI will combine in this partnership their expertise, bring significant synergies and create value both for the Indonesian and South East Asian markets.

Chandra Asri Petrochemical complex is located at Ciwandan, Cilegon in Banten Province is Indonesia's premier petrochemical plant incorporating world class, state-of-the-art technology and supporting facilities.

Source: Michelin website, 17 June 2013
(Syed Rashid Ali, Karachi, Pakistan)


RSS Feed

Are you new here? Do you want to be always up to date?
Then subscribe to our RSS Feeds and never miss a news again.