The Partnership of Chandra Asri and Hana Bank to Close Market-Leading Sustainability-Linked Green Loan

On 19 April 2021, PT Chandra Asri Petrochemical Tbk partnered with PT Bank KEB Hana Indonesia (Hana Bank) to facilitate a US$13 million Green Loan, specifically for the sustainability project that Chandra Asri had completed in its plant in Cilegon, Banten. This innovative and unsecured financing will be used to finance the Company's capital expenditures and other costs related to the completion of sustainability projects that have been carried out. The two finalized projects that have qualified for the facility are the construction of the Enclosed Ground Flare (EGF) and the roll-out of Electrical Forklifts (E-Forklifts) by Chandra Asri. EGF is capable of burning 220 tons of hydrocarbons per hour completely using a closed combustion method. By replacing the conventional flare, Chandra Asri will be able to reduce noise levels by up to 30% and eliminate heat and light emissions, without any smoke discharge. The second completed green project was to replace conventional combustion forklifts with electrical forklifts. It has zero emissions and on an annualized basis will reduce 69,455 kg of LPG, save 165,360 liters of diesel, cut 446,472 metric kilograms of carbon dioxide, and fully eliminate nitrogen oxide exhaust.