Chandra Asri Group and Glencore to Acquire Shell’s Energy and Chemicals Assets in Singapore

PT Chandra Asri Pacific Tbk (“Chandra Asri Group)  and Glencore plc (“Glencore”), one of the world’s leading natural resources companies, have entered into a Sales and Purchase Agreement with Shell Singapore Pte. Ltd. (“SSPL”) to acquire all its interest in the Shell Energy and Chemicals Park Singapore (“SECP”).

Following a competitive auction process, CAPGC Pte. Ltd. (“CAPGC”), a joint venture that is majority-owned and operated by Chandra Asri Group and minority-owned by Glencore through their respective subsidiary companies, agreed to acquire SECP which comprises a refinery with processing capacity of 237,000 barrels per day of crude oil, a 1.1 million metric ton per annum ethylene cracker on Bukom island, and downstream chemical assets on Jurong Island.