Chandra Asri aims for 45% jump in revenue this year

By Brigida Ernestina Elu Wea

IDX-listed petrochemical company PT Chandra Asri Petrochemical Tbk (TPIA) has set revenue to jump by 45 percent to US$2 billion this year from $.1.37 billion last year following the completion of expansion of its naphtha cracker plant in Cilegon, Banten, late in 2015.

Following the expansion, annual production capacity of ethylene increased to 860,000 tons from 600,000 tons, propylene to 470,000 tons from 320,000 tons, Pygas to 400,000 tons from 280,000 tons and mixed C4 to 315,000 tons from 220,000 tons.

Chandra Asri Director and Corporate Secretary Suryandi said that the facility is currently running at 90 percent capacity, and will gradually be increased to 100 percent in the second semester of this year.

Editing by Reiner Simanjuntak