$150m from Marubeni to CA

Tue, 02 Jun 1998, 00:00 WIB | Source: REUTERS

TOKYO (Reuters): Japanese trading house Marubeni Corp said
yesterday it had extended a loan worth $150 million in February
to a petrochemical joint venture in Indonesia.

A Marubeni spokesman said the loan was to help the venture, PT
Chandra Asri, meet its debt repayment obligations.

The joint venture, Indonesia's sole olefin plant, started
operations in 1995, he said, adding that it is 23.8 percent owned
by a Japanese consortium led by Marubeni, and the remaining 76.2
percent is held by Indonesian firms.

Chandra Asri has been hit by declining demand at home as well
as by falling market prices for petrochemical products, the
Marubeni spokesman said.

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