#Petrochemicals
Indika Energy establishes new subsidiary in bio-based chemical industry
Energy company PT Indika Energy (INDY) has established a new subsidiary, PT Tripatra Bioenergi Angkasa (TBA), to expand into the chemical industry.
Danantara yet to finalize investment in Chandra Asri’s chemical plant project
Indonesia’s sovereign wealth fund management agency, BPI Danantara, confirmed that it has not yet finalized the investment amount it may commit to the US$800 million (Rp13 trillion) Chlor Alkali-Ethylene Dichloride (CA-EDC) plant project, currently being developed by a subsidiary of PT Chandra Asri Pacific (TPIA).
Tycoon Hermanto Tanoko plans for chemical sector IPO, eyeing market expansion
Businessman Hermanto Tanoko has revealed plans for a new corporate breakthrough, announcing that one of his companies in the chemical sector is preparing for an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).
Chandra Daya's IPO oversubscribed 400 times, draws over Rp30T in investor funds
The initial public offering (IPO) of PT Chandra Daya Investasi (CDIA) has drawn overwhelming investor interest, with subscriptions oversubscribed more than 400 times, securing over Rp30 trillion (US$1.8 billion) in incoming funds − far exceeding the company's initial target of Rp2.37 trillion.
Aster Chemicals secures ownership of Jurong refinery unit in expansion move
Aster Chemicals and Energy Pte Ltd, a joint venture between PT Chandra Asri Pacific and global commodity giant Glencore, has announced the signing of an agreement to acquire a 50 percent beneficial interest in Petrochemical Corporation of Singapore (PCS) Pte. Ltd.’s Condensate Splitter Unit (CSU) and related infrastructure located on Jurong Island, Singapore.