Chandra Asri Group’s Subsidiary Secures US$194 Million Investment from EGCO

Chandra Asri Group, Indonesia’s leading chemical and infrastructure solutions company, has secured an investment of US$194 million from Electricity Generating Public Company Limited or EGCO Group (EGCO), a leading independent power producer in Thailand. Following completion, EGCO will hold a 30% stake in Chandra Asri Group’s subsidiary, PT Chandra Daya Investasi (CDI), a special purpose vehicle dedicated for infrastructure solutions. EGCO Group has been selected as Chandra Asri Group’s chosen partner to support the exponential growth of Chandra Asri Group’s infrastructure business, after a robust and comprehensive strategic investor selection process. This collaboration marks a significant milestone for both companies, combining Chandra Asri Group's expertise in the chemical and infrastructure sector with EGCO's proficiency in power and energy solutions. Chandra Asri Group will continue to retain a controlling 70% stake in CDI. The net proceeds raised will be used for the development of Chandra Asri Group and EGCO’s infrastructure business, which comprises of energy, water and port facilities.