17 June 2013
Details
PT Petrokimia Butadiene Indonesia (PBI),
a subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), and
the Compagnie Financiere Groupe Micheliin (Michelin)
signed an agreement to form a joint venture company
owned 55 % by Michelin and 45 % by PBI
to produce synthetic rubber.
The total investment is estamated at US $ 435 million,
Pending final investment decision.
Construction is expected to begin early 2015 with
start-up target at the beginning of 2017.
Synergy
Michelin and PBI will combine in this partnership their expertise,
bring significant synergies and create value both
the Indonesian and South East Asian markets
Reasons
- In line with high growth in automobie industry in
new emerging countries and
- the global trend towards more performance from tires such as
* tires which are safer,
* last longer and
* deliver fuel savings
- The demand for more technological synthetic rubber are forcasted to
increase as these are necessary to
* deliver more performance in a single tire and at the same time
* be environmentally friendly.
- Michelin introduced the green tire in 1992.
About PT Petrokimia Butadiene Indonesia (PBI)
- PBI is the first butadiene plant in Indonesia and
a subsidiary of PT Chandra Asri Petrochemical Tbk (CAP).
- The butadiene plant is targeted for completion and
commercial production in July 2013.
- CAP is the largest vertically integrated petrochemical company
in Indonesia and runs the naptha cracker for the production of
Ethylene, Propylene, Crude C-4, Pyrolysis gasoline, PE, PP and SM.
WWW.CHEMWINFO.COM BY KHUN PHICHAI
