JAKARTA (Yosefardi) – Chemical Company PT Chandra Asri Petrochemical Tbk (TPIA) targets to book revenues of US$2.5 billion, equivalent Rp25.7 trillion, this year, a 7% growth compared to last year, inline with industry growth of 6-7% per year.
The company booked net profit of US$4.9 million in first half of this year, compared to loss US$51.65 million in the same period of last year. Net revenues increased to US$1.22 billion from previous US$1.16 billion.
TPIA and Michelin, the giant tire manufacturer, propose to get tax holiday from the government of Indonesia as both companies plan to produce synthetic rubber with US$435 million of investment in Cilegon, Banten province.