SCG planning expansion in Indonesia | Bangkok Post: business

BALI : Siam Cement Group (SCG) and shareholders in its associated company in Indonesia, PT Chandra Asri Petrochemical Tbk (CAP), are studying a US$500-million plan to double production capacity for petrochemicals.

CAP aims to expand olefin cracker capacity to nearly one million tonnes per year from 520,000 tonnes and is also studying expansion capacity in downstream business, particularly in high-value products, says Cholanat Yanaranop, president of SCG Chemicals.

Thailand's top industrial conglomerate in September purchased a 23% stake in CAP from Appleton Investment Ltd, a wholly owned subsidiary of Singapore-based Temasek Holdings (Pte) Ltd, and a 7% share from PT Barito Pacific Tbk (Barito), in a deal worth $441 million.