DBS provides $60m structured trade facility to Indonesia petrochemical producer
Chandra Asri aims to expand export growth of petrochemical products from the country.
DBS has provided a US$60m structured trade facility to PT Chandra Asri Petrochemical (Chandra Asri), the largest integrated petrochemical producer in Indonesia, according to a press release.
The company aims to expand export growth of petrochemical products from Indonesia. Chandra Asri operates the country’s only Naphtha cracker that produces Olefins (Ethylene, Propylene), Pygas and Mixed C4, as well as Polyolefins (Polyethylene and Polypropylene).
Chandra Asri brought on stream Indonesia’s pioneering Butene 1 and Methyl Tert-Butyl Ether plants in 2020.
The company has been DBS’ corporate customers since 2005, with the bank providing Chandra Asri with a variety of banking services in areas such as digital banking, cash management, trade facilities, treasury, debt capital markets, and financing for its business needs.