Chemical Week Magazine :: Business & Finance :: Asia/Pacific
Chandra Asri and Michelin form synthetic rubber JV
1:08 PM MDT | June 28, 2013 | —Francinia Protti-Alvarez
Chandra Asri Petrochemical (Jakarta) and tire maker Michelin (Clermont-Ferrand, France) have signed an agreement to create a joint venture in Indonesia to produce synthetic rubber, Michelin says. Michelin will own 55% of the jv, with Chandra Asri owning the remaining 45%. The jv will require an investment of about $435 million, and construction is scheduled to start in early 2015, pending a final investment decision. The plant is expected to start up in early 2017. Details of the type of rubber it will produce have not been disclosed. Demand for synthetic rubber...
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