Chandra Asri and Vopak Sign LOI for Partnership in Industrial Terminal in Indonesia

On 5 October 2020, PT Chandra Asri Petrochemical Tbk and Royal Vopak (Vopak), the world’s leading independent tank storage company, have signed a Letter of Intent (LOI) to set up a joint venture company for collaboration in the industrial infrastructure business in Cilegon, Banten Province, Indonesia. Chandra Asri and Vopak will explore exciting storage opportunities in supply networks, to help grow existing petrochemical value chains and lay the foundations for an expanded industrial cluster in Cilegon, Banten Province, Indonesia. The finalization of this LOI and the setting up of the joint venture company is subject to final terms and conditions, including customary regulatory and shareholder approvals.