Chandra Asri Prepares Development of the Second Petrochemical Complex
By : Abraham Sihombing And Aldi Firhand. A | Tuesday, January 09 2018 - 21:13 IWST

PT Chandra Asri Petrochemical Tbk (TPIA)
INDUSTRY.co.id - Jakarta - The management of PT Chandra Asri Petrochemical Tbk (TPIA) is preparing the construction of a second petrochemical complex this year. Currently, the activity is just entering the preparatory stage of the feasibility study (pre-feasibility study).
Preparation is expected to increase the amount of capital expenditure (capital expenditure / capex) required by the company in 2018.
"The company's management is allocating US $ 300 million to finance its capital expenditure this year," said Harry Tamin, Head of Investor Relations at TPIA, in Jakarta recently.
Previously, the management of the largest petrochemical producer in Indonesia is expected to allocate US $ 250 million of capital expenditure. But with the plan to build the second petrochemical complex, the company's capital expenditure will be 25% higher than its original estimate.
According to Harry, the majority of TPIA's capital expenditure funds this year will be used to finance various ongoing expansion projects, namely the expansion of polyethylene plant construction and the expansion of polypropylene plant predicted to be completed by 2020.
"Meanwhile, the development of a synthetic rubber plant in collaboration with Michelin and the debottlenecking of the butadiene plant is predicted to be operational this year," said Harry.
Harry also revealed, the performance of TPIA in 2018 is estimated to be flat. That is due to the possibility of a decrease in the selling price of petrochemical products this year. (Abrahan Sihombing)
Today's Industry

Rabu, 25 Januari 2023 - 09:30 WIB
ASLC Successfully Surpasses 2022 Used Car Sales Target via Caroline.id
PT Autopedia Sukses Lestari Tbk (ASLC), a company engaged in used vehicles auction and trading of used cars, succeeded in selling 2,481 units of used cars through used car dealers under its…

Kamis, 05 Januari 2023 - 22:29 WIB
New Economic Board, GOTO Share Moves Closer to Global Indices
The presence of the New Economic Board on the Indonesia Stock Exchange (IDX) brings many benefits to PT GoTo Gojek Tokopedia Tbk (GOTO). One of them is getting closer to the shares listing of…

Senin, 19 Desember 2022 - 23:51 WIB
ALDO Aims 2023 Sales to Increase More Than Double
PT Alkindo Naratama Tbk (“ALDO”), a listed company engaged in the integrated paper and chemical business are optimistic that the Company's performance in 2023 will improve, in line with…

Senin, 19 Desember 2022 - 22:39 WIB
Indonesian Chamber of Commerce and Industry taps AC Ventures’ ESG head to join task force
The Indonesian Chamber of Commerce and Industry (KADIN) recently tapped AC Ventures’ (ACV) Head of ESG Lauren Blasco to join its newly formed ESG task force, an elite group of stakeholders…

Senin, 19 Desember 2022 - 21:50 WIB
Emerson’s New Analytics Software Automates Utilities Monitoring and Reporting for Clean-in-Place Applications
Emerson: Today Emerson announced the release of its new Clean In Place (CIP) Utilities and Automated Reporting Analytics package delivered via PACEdge™ and Movicon™ platforms on an industrial…
News Comment