Chandra Asri collaborates with BRI to support domestic petrochemical industry
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Chandra Asri collaborates with BRI to support domestic petrochemical industry

This collaboration is the first-ever financial solution program tailored specifically for the petrochemical industry administered by BRI

  • By ICN Bureau | August 31, 2023

PT Chandra Asri Petrochemical Tbk (Chandra Asri), Indonesia's largest integrated petrochemical company, and Bank Rakyat Indonesia (BRI), one of the country's largest state-owned banks, have signed a Memorandum of Understanding (MoU) to provide financing facility for Chandra Asri’s domestic polymer customers.

This collaboration marks a milestone as it becomes the first-ever financial solution program tailored specifically for the petrochemical industry administered by BRI.

The financing facility is provided to boost wholesale transaction volume while simultaneously supporting Indonesia's focus on enhancing the downstream industry through the optimization of domestic raw material processing. This collaboration is also expected to bolster the competitiveness of the industrial value chain, promote supply chain stability, and add value to national petrochemical products.

Polymer Sales Director Chandra Asri, Raymond Budhin stated, “Chandra Asri welcomes the strategic partnership with BRI in introducing this financial solution program for the benefit of our customers. The collaboration between Chandra Asri and BRI also serves as an expression of gratitude towards our customers who have opted for domestic product ingredients to support their businesses. This effort corresponds with the Company's dedication as a partner in fostering growth. It involves efficiently tackling issues arising from local market needs and offering enduring assistance to Indonesia's downstream sector.”

To obtain the financing facility, Chandra Asri will conduct a thorough assessment of its corporate customers. Furthermore, the Company will provide references of customers who meet the criteria to BRI, enabling them to access this financing facility. Additionally, this facility can also be availed by consumers who make direct purchases from Chandra Asri's customers.

Director of Wholesale and Institution Business BRI Agus Noorsanto said, “This collaboration represents a strong form of business development between BRI and Chandra Asri, showcasing BRI's commitment to delivering integrated and innovative financial solutions to its customers. This collaboration encourages BRI to provide continuous services within the Chandra Asri business ecosystem from upstream to downstream, with the aim of generating added value across the medium, retail, and micro segments.”

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