Sovereign wealth funds Danantara Indonesia and Indonesia Investment Authority (INA) said on Tuesday that they had signed a memorandum of understanding with petrochemical and energy firm Chandra Asri Pacific worth up to $800 million.
The agreement would explore the potential entry of Danantara and INA as new investors to build a chlor-alkali – ethylene dichloride plant, the companies said in a joint statement.
The plant, which will be managed by a subsidiary of Chandra Asri, is expected to have production capacity of 400,000 tons of solid caustic soda per year and 500,000 tons of ethylene dichloride.
Reuters
