Chandra Asri, A Company Owned By The Prajogo Pangestu Conglomerate Gets A Loan Facility Of IDR 188 Billion From Bank Hana

Chandra Asri's production facility in Cilegon, Banten. (Photo: By courtesy)

JAKARTA - PT Chandra Asri Petrochemical Tbk (Chandra Asri) is known to have received a green loan facility of USD 13 million or around IDR 188 billion from PT Bank KEB Hana Indonesia (Bank Hana).

Chandra Asri Chief Financial Officer Andre Khor said the loan was devoted to the sustainable development of the company's production facility in Cilegon, Banten, which is claimed to meet environmentally friendly elements.

"Sustainable business is the most important thing by upholding strong environmental, social and governance (ESG) standards. This facility is also part of our long-term strategy”, he said in a written statement, Monday, April 19.

Andre added that the collaboration with Bank Hana is also a form of support from financial institutions to the business sector in spurring production activities in order to accelerate the process of economic recovery.

"We are very pleased with the support, trust, and partnership provided by Bank Hana as part of the recognition of the progress we have made in this field", he said.

On the same occasion, Bank Hana CEO Park Jong Jin revealed that his party is trying to continue to contribute to the achievement of Indonesia's sustainable development goals by increasing the growth of the financing portfolio.

"We support Chandra Asri's efforts as a leading petrochemical company in Indonesia to grow and build a business that has broad benefits", he said.

For information, Bank Hana disbursed loans for the construction of an Enclosed Ground Flare (EGF) and the use of Electrical forklifts (E-Forklifts) by Chandra Asri.

Despite being in a pandemic situation, Chandra Asri, a company owned by the Prajogo Pangestu conglomerate, was able to complete construction on time and according to specifications.

Meanwhile, the newly established EGF facility is said to reduce noise levels by up to 30 percent and eliminate heat and light emissions without releasing smoke.

Meanwhile, the use of E-Forklifts is in accordance with the spirit of using electric vehicles. This is because Chandra Asri procured 53 E-Forklifts that could save 165.360 liters of diesel, reduce 446.472 metric kilograms of carbon dioxide, and eliminate nitrogen oxides every year.

"This green project is a manifestation of Chandra Asri and Bank Hana's sustainable focus and commitment to environmental sustainability, as part of a holistic sustainability framework that focuses on ESG principles", concluded Park Jong Jin.