Siam Cement Group (SCG) and PT Barito Pacific are looking to raise $500m to expand ethylene capacity at its Chandra Asri Petrochemical joint venture in Indonesia.
The companies plan to increase the ethylene capacity from 550,000t/year to at least 800,000t/year.
SCG chemicals president Cholanat Yanaranop said that Chandra Asri Petrochemical also plans to expand olefin cracker capacity to from 520,000t/year to nearly one million tons a year, and is also considering a capacity expansion for its downstream business.
The increased capacity is expected to come online in 2013.
