Chandra Asri Group and Glencore to acquire Energy and Chemicals Park in Singapore from Shell Singapore.

Chandra Asri Group, a chemical and infrastructure solutions company, and Glencore, a globally diversified natural resource companies, agreed to acquire Energy and Chemicals Park in Singapore from Shell Singapore, an energy company. Financial terms were not disclosed. “This acquisition is another successful outcome of our programmatic M&A strategy to become a leading chemical and infrastructure player in the region, and further strengthen the resilience of our business. This integration of our new energy and chemicals platform in Bukom and Jurong Island, Singapore, with our established presence in Cilegon, Indonesia, will drive expansion of product offerings and service enhancements, enabling us to capture new opportunities in growing Southeast Asian markets. We are delighted to be partnering with Glencore, and eagerly welcome the SECP talent to enrich our joint capabilities, as a very positive conclusion to a highly competitive auction process,” Erwin Ciputra, Chandra Asri Group President, Director and CEO.