JAKARTA (rambuenergy.com) – PT Chandra Asri Petrochemical Tbk, the country;s largest petrochemical company, is seeking to get new loan worth US$100 million. The proceeds of the proposed new loans will be used mostly to refinance its matured debts.
As of end first quarter 2015, the company’s debts to be matured this year will reach US$75 million. It has long term bank debts of US$440 million.
The company’s management has noted its shareholders at the company’s shareholders meeting early this week.
Currently, the company is finalizing a number of key projects including a naptha cracker which estimated cost of US$380 million. The project is considered 83 percent completed, Bisnis Indonesia daily reported.
As for this year, the company sets capital expenditure of US$200 million. Portion of this capex is to fund the naptha cracker project. (*)