Invest Rp3.37 trillion funds - Danantara and INA finance Chandra Asri project
Jakarta — Danantara Indonesia and INA have announced a joint investment of US$200 million in PT Chandra Asri Pacific Tbk (TPIA) for the CA-EDC petrochemical project. Under the agreed investment structure, Danantara Indonesia and INA will together provide US$200 million in capital. The CA-EDC plant has a project value of US$800 million, approximately Rp13.39 trillion, and the funding will be used to build the CA-EDC industrial facility managed by PT Chandra Asri Alkali (CAA), a subsidiary of TPIA. The CA-EDC petrochemical plant has been designated as part of the National Strategic Project (PSN) and is planned to commence operations in 2027. Pandu Sjahrir, Chief Investment Officer of Danantara Indonesia, stated that today’s agreement reinforces Danantara’s commitment to strengthening national strategic industries with high added value, job creation, and accelerated economic growth. He added that the collaboration is not only a response to import dependence but a concrete step to accelerate downstreaming, a key driver of Indonesia’s economy. The Acting Chair of INA’s Board of Directors, Eddy Porwanto, said the investment reflects INA’s long-term investment mandate to mobilise capital for sectors prioritized by the nation. He noted that the INA-Danantara partnership aims to establish a robust capital foundation to support sustainable capacity development for strategic raw materials. He added that the effort is expected to promote downstreaming, increase domestic value addition, and strengthen the competitiveness and resilience of the national industry. Erwin Ciputra, President Director and CEO of the Chandra Asri Group, welcomed Danantara Indonesia and INA as strategic investment partners for the CA-EDC project, saying the support reflects confidence in Chandra Asri Group’s ability to develop the facility. TPIA hopes the CA-EDC project will significantly reduce reliance on imports of strategic chemicals, reinforce national supply chain resilience, and support downstreaming. Erwin also noted that construction and operation of the facility will create about 3,000 jobs during the construction phase and 250 jobs during operation, with lasting benefits for communities and industry in Cilegon and surrounding areas. In the first phase, the CA-EDC plant will have annual production capacity of 400,000 tonnes of dry Caustic Soda and 500,000 tonnes of Ethylene Dichloride. The facility will be developed with high technological and safety standards to ensure operational efficiency, supply reliability, and compliance with sustainability principles.