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Chandra Asri to expand petrochemicals capacity
10
Mar '11
In a bid to meet rising demand for polyolefin goods, PT Chandra Asri Petrochemicals is planning expansion of its business through 2011 to 2014, and plans to invest US $500 million for the purpose.

The firm intends to spend $362.5 million for capacity building of its existing plants, of which $300 million would be used to raise the capacity of the existing naphtha plant from current six lakh tons to one million tons by 2014.

Further, $2.5 million would be spent on raising capacity of the company's existing polyethylene plant from present 320,000 tons to 336,000 tons by end of the current year, while another $60 million would be spent to further increase its capacity to 536,000 tons through 2014.

The demand for polyolefin products alongside the country's gross domestic products (GDP) is estimated to grow by six to seven percent every year.

The country's annual demand for ethylene, polypropylene and polyethylene remains at 970,000 tons, 930,000 tons and 800,000 tons respectively, with the country domestically producing 58, 46 and 62 percent of these products, respectively, while rest of the requirement was imported.

Fibre2fashion News Desk - India

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