Chandra Asri All Fired Up About $767m Olefin Plant
MARCH 29, 2015
Jakarta. Chandra Asri Petrochemical, a unit of diversified resource-based conglomerate Barito Group, plans to start an olefin plant worth around Rp 10 trillion ($767.47 million) in Kalimantan, according to the Indonesian Olefin and Plastic Industry Association (Inaplas).
The new plant will produce about a million metric ton of polypropylene plastic — the raw material to make plastic wrap — a year.
Inaplas’ vice chairman for business development, Budi Susanto Sadiman, said the project will be a collaboration between CAP and the government.
He said CAP has started a feasibility study this year and will start constructing the plant next year.
Budi added that, other than the plant in Kalimantan, CAP plans to build an olefin plant worth $1.8 billion in Teluk Bintuni, Papua, with German-based company Ferrostaal Industrial Projects.