PT Chandra Asri Petrochemical, a leading supplier of petrochemical products, including ethylene, to various Indonesian manufacturing industries, has signed an agreement for sale of ethylene to its subsidiary PT Styrindo Mono Indonesia.
The deal is for a period of one year and will be effective until December 31, 2012.
As per the agreement, PT Chandra Asri would sell and supply 19,500 tons of ethylene a quarter, with acceptable variation of plus or minus 10 percent.
The supply of ethylene would be through two modes – pipeline and cargo with a capacity of 3,000 tons per delivery.
The base price for ethylene would be based on the data from the Independent Commodity Information Services London Oil Reports (ICIS-LOR), whose prices are considered to be a benchmark for chemical industry worldwide.
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