JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) agreed upon the land sale and purchase worth IDR 1.15 trillion that will be allocated to the preparation of plant construction of its subsidiary, PT Chandra Asri Alkali (CAA). 

General Manager of Legal & Corporate Secretary of TPIA, Erri Dewi Riani, confirmed that two subsidiaries of PT Chandra Asri Alkali (CAA) have signed the land sale and purchase agreement for a piece of land of 513,658 m2, previously owned by PT Krakatau Daya Listrik (KDL), located in Krakatau Industrial Zone, Cilegon, Banten.

Said piece of land will be utilised to initiate the construction of CAA's plant. According to Riani, the land location, which is adjacent to the power source of KDL, will ensure the stability and reliability of electricity supply to the plant. The transaction value reportedly reaches IDR 1.15 trillion. 

This sale and purchase agreement will take effect starting from September 29, 2023, until the signing of the last sale and purchase agreement on December 31, 2024. (AM/ZH)