PT Chandra Asri Petrochemical Tbk (Chandra Asri; Jakarta, Indonesia) and Indonesia Investment Authority (INA), Indonesia’s sovereign wealth fund, have signed a Memorandum of Understanding (MoU) to collaboratively develop a world-scale chlor-alkali plant in Indonesia, said Chemengonline.
INA, along with other potential international investors, will explore taking an equity stake in PT Chandra Asri Alkali (CAA), a wholly-owned subsidiary of Chandra Asri that has been established as a special purpose vehicle to invest in the development of the world-scale chlor-alkali plant. Once operational, the plant will produce more than 400,000 metric tons per year (m.t./yr) of caustic soda (also known as sodium hydroxide), and 500,000 m.t./yr of ethylene dichloride (EDC). As part of the accelerated development of this plant, Chandra Asri has signed an basic engineering and licensing agreement with Asahi Kasei Corp. (AKC; Tokyo), leading licensor with state-of-the-art intellectual property for the development of world-scale chlor-alkali plants.
The combined value of the global cosmetic, beauty and personal care markets is estimated to be in excess of $500 billion a year, and continues to grow at a rate of around 4% p.a. From shampoo to sun tan oil, from nail varnish to night creams, this is an industry afloat on an ocean of lotions, colours, moisturising and cleansing products.
We remind, Chandra Asri announced their collaboration with Borouge, a petrochemical company from the United Arab Emirates, at the B20 (Business 20) event in Nusa Dua, Bali. The commitment agreed by both of petrochemical companies were based on a joint circular economy initiative which cover the management of polyolefin waste and recycling facilities to produce new products; as well as opportunities in co-marketing and market development initiatives, including developing non-metallic applications in certain market segments in oil and gas amalgamation, automotive, construction, and else, to promote the use of polyolefins.
mrchub.com