Chandra Asri And BRI Establish Financing Facilities Cooperation To Support The Value Chain Of The National Petrochemical Industry

Photo: Doc. Chandra Asri

JAKARTA - PT Chandra Asri Petrochemical Tbk (Chandra Asri), the largest integrated petrochemical company in Indonesia, and Bank Rakyat Indonesia (BRI), one of the largest national banks owned by the state, on Tuesday, August 29, 2023, signed a Memorandum of Understanding (MoU) to provide financing facilities for Chandra Asri domestic polymer customers. This collaboration in providing financing facilities is the first financing scheme specifically designed by BRI for the petrochemical industry.

The provision of financing facilities is carried out to increase the volume of wholesale transactions while at the same time supporting Indonesia's focus in strengthening industrial downstreaming by optimizing the processing of raw materials in the country. This collaboration is also expected to support the competitiveness of the industrial value chain, promote the stability of supply chains, and provide added value to national petrochemical products.

Chandra Asri's Polymer Sales Director, Raymond Budhin said, Chandra Asri welcomed the strategic partnership with BRI to introduce this financial solution program so that our customers get the benefits.

The collaboration between Chandra Asri and BRI is also an appreciation for our customers who have chosen the domestic product content to support their business. This initiative is in line with the Company's commitment to become a growth partner by effectively responding to domestic demand challenges and supporting the downstream Indonesian industry in a sustainable manner," he said in a written statement, Wednesday, August 30.

To obtain financing facilities, Chandra Asri will carefully assess corporate customers. Furthermore, the Company will recommend customers who meet the criteria for BRI to then get access to these financing facilities. Furthermore, this facility can also be obtained by consumers who buy from Chandra Asri's direct customers.

BRI Director of Wholesale and Institutional Business Agus Noorsanto said this collaboration is a form of strong business development between BRI and Chandra Asri, as well as BRI's commitment to providing integrated and innovative financial solutions for its customers.

This cooperation encourages BRI to provide services on an ongoing basis in the Chandra Asri business ecosystem from upstream to downstream so that it can create added value in the medium, retail, to micro segments, "explained Agus.Chandra Asri is committed to becoming a strategic partner for the downstream sector by continuing to support Indonesia's ambition to become the largest petrochemical producer in Southeast Asia. The significance of petrochemical products, such as polymers, lies in the wide utilization of downstream industries in daily necessities, such as packaging, household equipment, automotive plastic components, medical equipment, and so on.