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SCG Chemicals and Barito Pacific to expand ethylene capacity at Chandra Asri Perochemical

November 22/2011

(Plastemart) -- SCG Chemicals and Barito Pacific are seeking US$500 mln (Bt15.6 bln) to expand ethylene capacity at Chandra Asri Perochemical (CAP) to 800,000-1000,000 tpa from the current 550,000 tpa. Production capacity for polyethylene will be increased from 340,000 tpa, polypropylene from 480,000 tonss and styrene monomer from 320,000tpa.

CAP is Indonesia's largest petrochemical company in which Barito owns the largest shareholding at 70%. SCG Chemicals, the biggest unit of Siam Cement Group, Thailand's largest industrial conglomerate, in September acquired 30% of CAP for US$442 mln.

The two are considering a public offering in the Indonesian stock market and borrowing from banks with the expectation of making a decision early next year so that the increased capacity can come on stream in 2013.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers' presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

Tags:PP, PE, styrene.
Category:General News
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