Chandra Asri Group's contribution through the SECP Acquisition to Strengthen Indonesian Industry

Chandra Asri Group has signed a Sale and Purchase Agreement with Shell Singapore Pte. Ltd. to acquire Shell Energy and Chemicals Park (SECP) in Singapore. The acquisition was made through a strategic partnership involving Glencore plc and is pending regulatory approval until the end of 2024. The move aims to strengthen the company's contribution to Indonesia's energy security and support the domestic chemical industry and infrastructure sectors. Through the acquisition of SECP, Chandra Asri will ensure the supply of petroleum and chemical products, such as gasoline and jet fuel, as well as ethylene, polyethylene, propylene, MEG, and styrene monomers, to support the needs of various local industries and manufacturing processes.

Chandra Asri Group President Director & CEO, Erwin Ciputra, stated that this move will positively impact the Indonesian economy. Proceeds from SECP operations will be repatriated and reinvested for domestic industrial development, including creating new job opportunities through the establishment of a company that will manage SECP operations. In addition, the transfer of technology and knowledge from SECP to Indonesia is also expected to help improve operational efficiency and strengthen the national industrial value chain.

Chandra Asri Group's expansion into the ASEAN region aligns with the company's strategy to expand its global presence, capitalizing on the projected market growth of 4.5% by 2024 and ASEAN's combined GDP estimated to reach USD 4.5 trillion by 2030. The partnership with Glencore and the acquisition of the Shell Energy and Chemicals Park (SECP) in Singapore not only strengthens Indonesia's global position but also drives innovation through technology and knowledge transfer. This collaboration is expected to improve the company's operational efficiency and competitiveness in the energy and chemical industry, while positively impacting national economic growth.