KUALA LUMPUR: Petronas Chemicals Group Bhd (PetChem) and Indonesia’s PT AKR Corporindo Tbk (PT AKR) are joining hands to distribute chemicals across Indonesia. Methanol will be the first product to be distributed to customers in Indonesia.
In a statement yesterday, the companies said a joint-venture company would be formed by their subsidiaries for this purpose.
They 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.
Managing director/chief executive officer Datuk Sazali Hamzah said in the statement that South-East Asia was an important market for the group.
“Having an established local partner in Indonesia with a strong logistics infrastructure and market presence will 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 a 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.
Did you find this article insightful?