Chandra Asri bags $194m investment from Thai power producer EGCO

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Indonesian petrochemical conglomerate Chandra Asri Group had secured a US$194 million investment from Thailands independent power producer Electricity Generating Public Company (EGCO), the two companies announced in a joint statement on Tuesday.Under the deal, EGCO is to hold a 30 percent stake in Chandra Asris infrastructure investment arm Chandra Daya Investasi (CDI), with parent company retaining the majority 70 percent stake.Chandra Asri plans use the funds to develop CDIs business in energy, water and port infrastructure.

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