Mar 7, 2011

Chandra Asri to jack up EBITDA 7%

Indonesia petrochemical manufacturer PT Chandra Asri Petrochemical's Tbk (CAPC) expects a 6%-7% higher EBITDA this year than US$150 million last year.
This year revenue is targeted beyond US$2 billion from US$1.5 billion-US$1.6 billion last year. Chandra Asri is preparing an investment up to US$650 million for 2011 until 2014 for chemical's and Liquid Petroleum Gas (LPG). 
Suryandi, Chandra Asri Director, said in short term plans to increase poly propylene capacity production from 380,000 to  480,000 metric tons starting April 2011.
Poly ethylene from 320,000 to 360,000 metric tons will be applied in Q4 2011 and becoming 530,000 metric tonnes by 2014.
Chandra Asri also plans to develop synthetic butadiene project with capacity 100,000 tons per annum. Ground breaking of this project expect in 1H 2011 dan and will start commercially in 2013 and need US$100 million investment.
The other big project are ethylene expansion plants from 600,000 to one million metric tons of capacity with total investment US$300 million and LPG's project joint with Netherland's Royal Vopak base in Singapore with total investment US$150 million with total capacity 1 million tons.
Italia's Micheline, tyre's producer has shown they interest to build synthetic butadiene plants and tyre in Indonesia.

Disclosure: No position at the stock mentioned above.  

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