JAKARTA - Integrated petrochemical company PT Chandra Asri Petrochemical Tbk (TPIA) plans to allocate capital expenditure (capex) of US$ 430 million for 2020.
Suryandi, Corporate Secretary of TPIA said that capex in 2020 will be more focused for the development of CAP 2 petrochemical complex. "US$ 330 million for CAP 2. The rest is for maintenance, MTBI, PE and PP," said Suryandi (12/23).
Capex in 2020 will be fully funded by the company's internal cash. At the end of the third quarter of this year, TPIA's cash and cash equivalent position was recorded at US$ 569.2 million. The amount is down 21.7% on an annual basis compared to the same period last year of US$ 726.7 million.
For information, for this year Chandra Asri has allocated a capex of around US$ 360 million. (LM)