PetChem partners PT AKR for chemicals distribution in Indonesia


KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) is partnering Indonesia’s PT AKR Corporindo Tbk (PT AKR) to distribute chemicals across Indonesia.

In a joint statement Tuesday, it said a joint venture company will be formed by the subsidiaries of PCG and PT AKR respectively for this purpose.

It added that the partnership leverages both companies’ strengths to bring greater value to Indonesia.

At the same time, PetChem and PT AKR will work together to deliver innovative customer solutions to meet customers’ diverse needs. Methanol will be the first product to be distributed to customers in Indonesia.

Managing director/chief executive officer Datuk Sazali Hamzah said southeast Asia was an important market for the group.

“Having an established local partner in Indonesia with a strong logistic infrastructure and market presence would enable us to grow our network and serve our customers more effectively.

“PT AKR’s experience in serving the methanol market is synergistic to PCG’s business. Beyond distributing methanol, we also aspire to extend the chemical range to include other chemical products in the future,” he said.

PT AKR president director group CEO Haryanto Adikoesoemo said the partnership with PetChem marked a significant step in its expansion strategy and strengthens its position as one of the major petroleum and chemicals distributors in Indonesia.

Petronas Chemicals Marketing Sdn Bhd (PC Marketing), a subsidiary of PCG, and PT AKR Niaga Indonesia (PT Ani), a subsidiary of PT AKR, recently signed an agreement to formalise the joint venture.

Signing on behalf of PC Marketing was its CEO Shakeel Ahmad Khan, while PT ANI was represented by its directors Mery Sofi and Nery Polim.

Sazali and Haryanto Adikoesoemo were present to witness the first virtual signing for both parties that was held in Kuala Lumpur and Jakarta simultaneously.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Business News

Dollar drops as traders prepare for Yellen to talk up stimulus
Norway awards O&G exploration rights to 30 firms
China's Geely teams up with Tencent on smart car tech
Japan's biggest business lobby shrugs off calls for wage hikes
China to support economic recovery, avoid 'policy cliff'
Carlsberg pledges RM2mil in food, education aid
Logos inks first Malaysia JV to develop integrated logistics hub
Indonesia, Malaysia eye joint campaign in Europe to counter palm oil critics
Global semicon revenue to grow to US$450b this year
Palm oil set for lowest close in seven weeks on demand worries

Stories You'll Enjoy