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.
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