Business Development Asia LLC
South East Asian Chemical News
ISSUE 9, OCTOBER 1998
INDONESIA
BP Chemicals is in negotiations with PT Chandra Asri Petrochemical (CAPC) concerning a possible investment in CAPC's olefin center in Cilegon. CAPC officials have stated that BP appears to be the only foreign company interested in investing in the olefin plant, and that the US$1.8bn facility urgently needs foreign investment in order to strengthen its capital structure. (September 16th 1998)Nissho Iwai has increased its take in PT Kaltim Methanol Industry (KMI) from 25% to 90%. Nissho acquired its additional 65% holding from the Humpuss Group's 70% share. KMI is building a US$350m, 60,000 tpa methanol plant at Bontang, East Kalimantan. (September 11th 1998)
Rhodia, the specialty chemicals subsidiary of Rhone Poulenc, has acquired the outstanding 40% of PT Rhone Poulenc Indolatex, its JV with PT Aneka Kimia Raya. The value of the purchase was not disclosed. Aneka Kimia Raya produces about 20,000 tpa styrene butadiene latex, a chemical used in the production of paper, and plans to expand its capacity to 50,000 tpa. (September 28th 1998)
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