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Compagnie Generale des Etablissements Michelin SCA and Petrokimia Butadiene Indonesia PT Sign Joint Venture Agreement for Synthetic Rubber Production

Monday, 17 Jun 2013 03:22am EDT 

Compagnie Generale des Etablissements Michelin SCA (Michelin) announced that it has signed with Petrokimia Butadiene Indonesia PT (PBI), a wholly-owned subsidiary of PT Chandra Asri Petrochemical Tbk (CAP), a joint venture agreement for Synthetic Rubber production. The new company will be owned 55% by Michelin and 45% by PBI. The total Investment is estimated at USD 435 million. Pending final investment decision, plant construction is expected to commence in early 2015 with completion and start-up targeted for the beginning of 2017. 

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