Singapore, 8 May 2024, Chandra Asri Group, a subsidiary of Barito Pacific operating in chemical and infrastructure solutions, collaborated with one of the world's leading natural resource companies, Glencore, to sign an agreement to acquire all ownership of Shell Energy and Chemicals Park Singapore (SECP).

SECP consists of a crude oil refinery with a processing capacity of 237,000 barrels per day, an ethylene cracker with 1.1 million metric ton per year capacity on Bukom Island, and downstream chemical assets on Jurong Island.

Erwin Ciputra, President Director and CEO of Chandra Asri Group, said, "This acquisition is a testament to the success of our structured M&A strategy in becoming a leading player in chemicals and infrastructure in this region, and will further strengthen our business resilience. Integrating new energy and chemical platforms on Bukom and Jurong Islands, Singapore, with our established presence in Cilegon, Indonesia, will drive the expansion of product offerings and service enhancements, enabling us to capture new opportunities in the Southeast Asian market.