Chandra Asri Raup Revenue Of 1.785 Billion US Dollars In 2024

Photo: Doc. Chandra Asri Group

JAKARTA - PT Chandra Asri Pacific Tbk (TPIA) achieved revenue of US$1.785 billion throughout 2024, consisting of a chemical business of US$1.684 billion and an infrastructure business of US$100.8 million.

The company also continues to maintain a strong financial position, with solid liquidity of USD 2.4 billion. That figure consists of USD 1.4 billion in cash and cash equivalents, USD 0.8 billion in the form of tradable securities, as well as USD 0.2 billion in available revolving credit facilities.

"This solid foundation allows us to encourage long-term growth and contribute to the development of Indonesia's industry and economy," said Director of Chandra Asri Group, Suryandi in his official statement, Tuesday, March 18.

Suryandi explained that the company appreciates the Government for the Chlor Alkali Factory Ethylene Dichloride (CA-EDC) belonging to the Chandra Asri Group which has been included in the National Strategic Project List (PSN). This confirms the company's commitment to sustainable economic growth.

"With an annual production capacity of 400,000 tons of caustic soda and 500,000 tons of Ethhylene Dichloride (EDC), this facility can significantly reduce Indonesia's dependence on chemical imports," explained Suryandi.

Suryandi further stated that caustic soda will support key industries such as alumina purification, nickel refining, and electric vehicle battery production, while EDC will be an important component in PVC production for the construction sector.

"This initiative will strengthen industrial downstreaming, encourage economic growth, create jobs, and be in line with the government's vision for national development," he said.

In addition, through a subsidiary, namely, PT Chandra Daya Investasi (CDI), Chandra Asri Group has obtained a 7-year-old loan worth IDR 2 trillion from PT Bank Danamon Indonesia Tbk, to fund strategic and sustainable infrastructure projects.

"This funding will support CDI operations, business expansion, and working capital, thus enabling companies to accelerate investment in renewable energy, sustainable water management, energy efficiency, and other green asset initiatives," he said.

Chandra Asri Group also invests in the collection of jelantah oil (UCO) unit in Indonesia owned by Biofront, TUKR. TUKR manages the entire life cycle in disintegration, from collecting and storing to derivation to processing it into green fuel. This investment is part of our ongoing efforts to support the development of sustainable biofuels, including Sustainable Aviation Fuel (SAF) produced from waste-based raw materials.

In addition, the process of purchasing Shell's refinery and chemical assets has received the necessary approval. Currently, the process is in the final stages and is expected to be finalized soon.