Chandra Asri and Michelin partner on new synthetic rubber manufacturing plant
Mary Page Bailey
PT Chandra Asri Petrochemical Tbk (CAP; Jakarta, Indonesia; www.chandra-asri.com) along with Compagnie Financière Michelin (Michelin) have formed a partnership for the inauguration of a synthetic rubber plant ,which is managed by PT Synthetic Rubber Indonesia (SRI). This partnership is a milestone of the joint venture agreement between PT Petrokimia Butadiene Indonesia (PBI, a subsidiary of CAP) with Michelin, which has been signed by both parties in June 2013. The plant construction is planned to begin in early 2015, with completion and start-up targeted at the beginning of 2017. The collaboration between the two companies is expected to give positive contributions for Indonesian economic by reducing import of feedstock and to increase export of tires.