Chandra Asri through its subsidiary, PT Chandra Asri Alkali (CAA), has signed a License, Basic Engineering and Technical Services Agreement with a leading vinyl technology licensor from United States of America, to develop ethylene dichloride (EDC) plant following the Company’s business plan to build a world-scale integrated chlor-alkali and EDC plant (CA-EDC plant). The CA-EDC plant, which will be operated by CAP2's subsidiary, CAA, will produce 500,000 metric tons per annum of ethylene dichloride (EDC) and more than 400,000 metric tons per annum of caustic soda.
As a growth partner, Chandra Asri strives to support construction and infrastructure sectors at the regional level by providing high quality polymer raw materials for polyvinyl chloride. With the development of the EDC plant, Chandra Asri also wishes to support Indonesia’s ambition to become the largest petrochemical producer in ASEAN as well as a strategic partner for the downstream sector. This CA-EDC plant owned by CAA will be built in Cilegon.
Chandra Asri, NIPPON SHOKUBAI CO., LTD. (NSCL), and PT NIPPON SHOKUBAI INDONESIA (NSI) have signed a Memorandum of Understanding (MoU) to jointly explore green chemical business opportunities. Through this MoU, Chandra Asri and NSCL as well as its affiliates, NSI (hereinafter referred to as “NIPPON SHOKUBAI Group”), will explore the potential to produce 'bio' materials such as bio-naphtha, bio-olefins, and various products that use renewable energy, to produce sustainable derivative products such as acrylic acid (AA), acrylic ester (AES), and superabsorbent polymer (SAP).
Chandra Asri is excited to partnered with NIPPON SHOKUBAI Group in initiating this challenging collaboration. This collaboration marks another step in Chandra Asri’s journey to meet domestic market's need for more environmentally friendly bio-chemical derivative products, such as green plastic, which is believed has a lower emissions and can support Indonesia’s Long-Term Strategy for Low Carbon and Climate Resilience 2050 (Indonesia Vision 2050 LTS-LCCR).
Chandra Asri received an award from the Ministry of Health for Company's contribution in handling Covid-19 in Indonesia. As a growth partner, Chandra Asri has been actively working to control Covid-19 transmission by implementing recommendations and regulations within the Company. In 2022, 100% percent of the Company's employees have received the full dose of Covid-19 vaccination. Related to this, the Company also makes the completeness of vaccination doses a regulation for new employee acceptance.
Until now, health protocols are still enforced in plant areas for employees, contractors, vendors, and guests with access to the Company's area. The Company also ensures that all employees continue implementing 5M (hygiene protocols) in operational activities to minimize the spread of Covid-19. Until the end of December 2022, Chandra Asri had distributed 1,540 basic food packages to Covid-19 pandemic affected communities.
On Monday, 22 May 2023, as a result of the Company's compliance with the Regulations of the Minister of Trade (Permendag), Chandra Asri was awarded the "Compulsory Calibration Award with the Highest Compliance in the Implementation of Calibration/Recalibration of UTTP Equipment in the Cilegon City Region in 2023" (Wajib Tera Award 2023). This award was handed over directly by the Mayor of Cilegon, Helldy Agustian. The award ceremony was in conjunction with the National Awakening Day Commemoration Ceremony and World Metrology Day.
This award appreciates Company's achievements in carrying out calibration/recalibration by calibrating its measuring equipment (Ukur, Takar, timbang, dan Perlengakapannya/UTTP) at the specified time. Previously, the Cilegon City Government had also conducted observations and assessments of the compliance of the mandatory tera markers in the Cilegon City area from 2022 to May 2023.
On Wednesday, 17 May 2023, Chandra Asri held the Annual General Meeting of Shareholders (AGMS) 2020 in Jakarta. In the agenda of this annual Meeting, there are 6 (six) agenda items discussed, including regarding the distribution of dividends and changes to the composition of the Company's management.
Even though 2022 was challenging for the petrochemical industry due to global geopolitical dynamics, Chandra Asri could still maintain a solid performance with a strong liquidity pool position. The Company posted a US$2,385 million Net Income, a slight decrease of 7.6% from last year. The Company achieved a cash breakeven with positive Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) of US$5.3 million, a much stronger performance than similar companies in the same industry
PT Pemeringkat Efek Indonesia (PEFINDO) has affirmed its “idAA-“ ratings for PT Chandra Asri Petrochemical Tbk (TPIA / Chandra Asri) and its outstanding bonds. The outlook for the corporate rating is affirmed to be Stable. The rating reflects PEFINDO’s view of Chandra Asri’s leading position in the domestic petrochemical industry.
Chandra Asri will continue to maintain financial prudence and capital discipline, prioritize higher return, lower risk and faster payback investments in areas where Company possesses sustainable competitive advantage, in tune with the recent announcements of our Memorandum of Understanding (MoU) signing with Indonesia Investment Authority (INA), to jointly develop a world-scale chlor-alkali plant in Indonesia which as well part of CAP2 expansion plans.
Chandra Asri became one of the locations for Industrial Visits from the Commissariat Region III Association of Indonesian City Governments (APEKSI) in the RAKORKOMWIL III event (Coordinating Meeting of the Region III Commissariats) in Cilegon City, Banten. This visit was carried out by 25 mayors from Banten, DKI Jakarta, West Java, Central Java, and DI Yogyakarta. The event was attended by the Chairman of APEKSI and Mayor of Bogor, Dr. H. Bima Arya Sugiarto, Mr. H. Dedi Yon Supriyono, SE, MM, as Chairman of KOMWIL III APEKSI as well as Mayor of Tegal, and Mr. H. Helldy Agustian, S.E., S.H., M.H as Mayor of Cilegon.
During this industrial visit, Chandra Asri showcased its sustainable initiatives, including circular economy and shared-values related programs, especially regarding integrated waste management and plastic asphalt initiaitives. Chandra Asri hopes that APEKSI's visit can provide useful information for participants in urban waste management under APEKSI Region III Commissariat.
Welcoming Eid Al-Fitr 1444H, the City Government of Cilegon sent off the homecoming participants Program "Mudik Gratis Penuh Berkah 2023" at the Cilegon City Government Office. This program is an initiative of the City Government in collaboration with industries in the Cilegon City area, including Chandra Asri. As a growth partner for the community and the government, Chandra Asri participates in this program by providing three bus fleets and departing approximately 160 people to Semarang, Kuningan, and Solo.
A total of 25 bus fleets originating from industry support in Cilegon departed on April 18, 2023. These buses depart approximately 1,200 people to 17 destinations covering four provinces on the islands of Java and Sumatra. Chandra Asri hopes that those who participate in this Homecoming Program will arrive in their hometowns safely so they can gather to celebrate happiness with their families and relatives.
On Thursday, April 13, 2023, Chandra Asri distributed 6 liters of plastic fuel, consisting of 2 liters of plastic gasoline and 4 liters of plastic kerosene, to fishermen and home-based businesses residing at the coast of Pangaradan Beach, Anyar Village, Serang Regency, Banten. This plastic fuel is generated from Chandra Asri's integrated waste management initiative (end-to-end plastic waste management) based on a circular economy principle, SAGARA and IPST ASARI (Industri Pengelolaan Sampah Terpadu, Atasi Sampah – Kelola Mandiri).
These six liters of plastic fuel distributed by Chandra Asri are equivalent to converting 8 kilograms of low-value plastic waste from landfills. Previously, Chandra Asri had also distributed 1,079 liters of plastic fuel (equivalent to 1,402.7 kilograms of low-value plastic waste) to the people involved in the SAGARA program. The beneficiaries of this SAGARA program include 17 fishermen and 10 MSMEs in Anyar.
Chandra Asri and the Indonesia Investment Authority (INA) have signed a Memorandum of Understanding to work together to develop a world-scale chlor-alkali plant in Indonesia, PT Chandra Asri Alkali (CAA) on Thursday, April 13, 2023. The CAA plant, a wholly owned subsidiary of Chandra Asri, will also accept investment from other potential international investors.
As part of the accelerated development of this plant, Chandra Asri has signed a basic engineering and licensing agreement with Asahi Kasei Corporation (AKC) from Japan, a leading world-class licensor with state-of-the-art intellectual property for the construction of CAA plan. The establishment of this world-class chlor-alkali company is expected to accelerate the growth of the national downstream industry, support Indonesia's ambition to become one of the world's largest nickel producers, as well as position itself in the global electric vehicle value chain.