The facility will be disbursed via DBS Indonesia. Proceeds will be used to finance the development of infrastructure to connect Indorama’s manufacturing complex located in Purwakarta, West Jawa, to the national grid and in turn facilitate the transition away from captive coal generated power. The project will also include facility upgrades which will help to improve the energy efficiency of the factory complex and contribute towards reducing Indorama’s carbon footprint.
Indorama will track project timelines, as well as measure and report its greenhouse gas emissions annually to DBS.
V S Baldwa, Managing Director and Group Chief Financial Officer of Indorama, said: “Indorama has made significant commitments towards creating a sustainable future and this project is an important step towards reducing our Group’s carbon emissions in line with our sustainability improvement plans. This financing further reinforces our long-standing relationship with DBS in leveraging their sustainability leadership for this milestone project.”
Adrian Chai, Managing Director and Group Head of Global Industries, Institutional Banking Group, DBS, said: “As Southeast Asia’s largest bank, DBS is committed to supporting the region’s energy transition. One of the key ways to achieve this is through close partnership with the private sector, including like-minded companies such as Indorama, to improve resource efficiency and decarbonise industrial operations.”
