Chandra Asri and Ecovance Study Biodegradable Plastic Ecosystem in Indonesia

Chandra Asri has signed a memorandum of understanding (MoU) with Ecovance Co. Ltd., a South Korean-based company specializing in biodegradable materials which partly owned by SKC group, to study the potential for strategic collaboration in the biodegradable plastic materials, polybutylene adipate terephthalate (PBAT) and polybutylene succinate (PBS). Through this MoU, both parties agree to focus on application development and customer evaluation, developing partnerships to create a biodegradable plastic ecosystem, and exploring investment opportunities in environmentally friendly materials and solutions. A study will be conducted to determine the feasibility of biodegradable materials in the Indonesian market by leveraging Chandra Asri's extensive knowledge and experience in polymers and plastics, combined with Ecovance's expertise in biodegradable materials technology. Biodegradable plastic is seen as a green alternative to plastic due to its lower energy consumption and produces less emission. This advantage is in line with Chandra Asri's commitment to supporting Indonesia's Long-Term Strategy for Low Carbon and Climate Resilience 2050 (Indonesia Vision 2050 LTS-LCCR).