MOSCOW (MRC) -- Indonesia's largest petrochemical producer Chandra Asri Petrochemical (CAP) plans to invest USD6 bln in several projects from 2016 to 2021, as per a company executive in Jakarta Globe, reported Plastemart.
In the first phase of its investment plan, Chandra Asri plans to spend USD150 mln this year alone to ramp up production capacity on a number of petrochemical products like butadiene. Chandra Asri also plans to expand its Nafta Cracker factory in Banten - the country's only Naphtha Cracker factory.
Vice President for Corporate Relations Suhat did not say anything about the other phases in the investment drive.
Chandra Asri also intends to secure tax holiday or tax allowance from the government, considering the size of its future investment.
As MRC informed before, in September 2016, CAP signed an agreement with Univation Technologies, LLC, located in the United States, to use the UNIPOL PE Progress for a new world scale 400,000 tpa polyethylene (PE) plant at its integrated naphtha cracker complex in Cilegon, Banten. The agreement covers process design package, including licence, to produce linear low density polyethylene (LLDPE), high density polyethylene (HDPE) and metallocene LLDPE (mLLDPE). This commitment is a major milestone in CAP's strategic plan to build a new PE plant with final investment decision expected by mid 2017 and now CAP is doing a process design package (PDP).
Chandra Asri Petrochemical (CAP) is the largest vertically integrated petrochemical company in Indonesia with facilities located in Ciwandan, Cilegon and Puloampel, Serang in Banten Province. CAP is Indonesia's premier petrochemical plant incorporating world-class, state-of-the-art technology and supporting facilities. At the heart of CAP lies the Lummus Naphtha Cracker producing high quality Ethylene, Propylene, Mixed C4, and Pyrolysis Gasoline (Py-Gas) for the Indonesian as well as regional export markets.
MRC