JAKARTA (Yosefardi) – PT Chandra Asri Petrochemical Tbk (TPIA) allocates capital expenditure (capex) of US$115 million, equivalent Rp1.34 trillion, for its naptha cracker expansion.
This expansion, starting late last year, is targeted to complete next year. The expansion will cost US$380 million or Rp4.45 trillion.
TPIA also sets up a joint venture company with Michelin, to produce syntetic rubber. The joint venture company is called as PT Synthetic Rubber Indonesia with investment of Rp5.09 trillion.
TPIA booked revenues of US$641.72 million in first quarter of this year, grew by 8.19% from US$589.16 million in the same period of last year.