Chandra Asri Petrochemical, Indonesia’s largest integrated petrochemical company, has signed a Letter of Intent with Vopak to set up a joint venture company and collaborate in developing petrochemical infrastructure in Cilegon in Indonesia’s Banten province. The partners will explore opportunities in tank storage and supply networks, to help grow existing petrochemical value chains and lay the foundations for an expanded industrial cluster in Cilegon.
Erwin Ciputra, president director and CEO of Chandra Asri, says: “We are pleased by the strong interest shown by a world-class operator like Vopak to partner with us. We look forward to productive discussions with Vopak to jointly explore growing our existing jetty and tank farm operations, with two key strategic objectives: firstly to develop a new jetty and tank farm line of business to serve new third-party customers, and secondly to prepare for the investment and construction of the supporting infrastructure of our second petrochemical complex. We strongly believe in the growth potential of the petrochemical industry in Indonesia and this initiative marks another step forward in that direction to solidify our business scale and reach, to serve the needs of our customers and the domestic market.”
Michiel Gilsing, president of Vopak’s Asia & Middle East division, adds: “We are excited about partnering with Indonesia’s premier petrochemical producer Chandra Asri to explore this opportunity in industrial infrastructure services. We believe in the long-term growth potential of Indonesia and this potential collaboration will enable us to further invest in Indonesia in Industrial Terminals, which has been earmarked as one of our growth focus areas.”[post_title] => Vopak eyes Indonesia developments [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => vopak-eyes-indonesia-developments [to_ping] => [pinged] => [post_modified] => 2020-10-05 12:00:30 [post_modified_gmt] => 2020-10-05 11:00:30 [post_content_filtered] => [post_parent] => 0 [guid] => https://hcblive.com/?p=28602 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )