CAP secures funds for Indonesian cracker expansion

Indonesia’s PT Chandra Asri Petrochemical (CAP) has obtained funding to complete a planned naphtha cracker expansion to increase ethylene production at its plant in Ciwandan, Cilegon, in Banten Province.

CAP signed the 7-year term loan facility agreement, which amounts to $265 million, with various local and international banks, including Bangkok Bank PCL, Siam Commercial Bank PCL, Indonesia Eximbank, DBS Bank Ltd., and Deutsche Bank AG, according to CAP.

The loan will be used to finance capital expenditure in connection with the expansion of CAP’s Lummus naphtha cracker capacity to 860,000 kilotons/year (kt/y) from a previous 600,000 kt/y, CAP said.

The cracker expansion project, estimated to cost $380 million, began in this year’s fourth quarter, with commercial production slated to start at yearend 2015, according to CAP.

Related Articles

Petron advances Bataan refinery revamp

10/14/2014 Petron Corp., Mandaluyong City, Philippines, has started up major units that form part of the $2 billion Refinery Master Plan 2 (RMP-2) upgrade pro...

Exterran joins Woodford Express to build Oklahoma gas plant

10/14/2014 Exterran Holdings, Houston, will join Woodford Express LLC, a subsidiary of Xplorer Midstream LLC, Oklahoma City, to build a 210-MMcfd natural gas ...

Midstream unit awards North Louisiana gas plant contract

10/14/2014 PennTex North Louisiana LLC, a unit of PennTex Midstream Partners LLC, Houston, has selected UOP LLC, Des Plaines, Ill., to engineer, procure, and ...

Kurnell shuts as refinery to become fuel import terminal

10/14/2014 Caltex Australia Ltd.’s 135,000-b/d Kurnell refinery at Sydney has now become Australia’s largest fuel import terminal following the closure of ref...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected