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  • Written on 01.08.2014 - Industry
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INDONESIA: Chandra Asri uses two subsidiaries as collateral for expansion loans

PT Chandra Asri has placed the assets of its PT Styrindo Mono Indonesia (SMI) and PT Petrokimia Butadiene Indonesia (PBI) subsidiaries as collateral for loans totaling USD 533-million that will be used for expansion projects, the Jakarta Post reported.

Chandra Asri’s expansions, on which work was started last year, will increase ethylene and propylene capacity to 860,000 t/y from 600,000 t/y and 470,000 t/y from 320,000 t/y, respectively, as well as boost production of pyrolysis gasoline to 400,000 t/y from 280,000 t/y and mixed C4 to 315,000 t/y from 220,000 t/y.

The projects are intended to help the company become more self-sufficient in the supply of feedstock to its polypropylene and butadiene facilities.

SMI has 340,000 t/y of styrene capacity, while PBI operates a 100,000-t/y butadiene plant.

Source: Weekly "PetroChemical News", Durham, NC, USA; 28 July 2014
(Syed Rashid Ali, Karachi, Pakistan)


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