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Chandra Asri raises loan to support cracker expansion project

3:27 AM MST | December 10, 2013 | Natasha Alperowicz

PT Chandra Asri Petrochemical (Jakarta) says it has secured financing for a previously announced ethylene expansion project at Cilegon, Indonesia. The company has obtained loans amounting to $265 million from various banks, including Bangkok Bank, the Siam Commercial Bank, Indonesia Eximbank, DBS Bank, and Deutsche Bank's Singapore branch. The loans, which will mature in seven years, will be used to partly finance the capital expenditure needed for Chandra Asri’s naphtha cracker expansion.   The company plans to increase capacity of its ethylene plant...

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