Mubadala, OMV to explore petchem deals in Indonesia

July 27, 2019

Mubadala, OMV and petrochemical leaders PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa have signed an agreement to explore opportunities for collaboration in the petrochemical sector in Indonesia.

The memorandum of understanding (MoU) was signed by Musabbeh Al Kaabi, CEO of Petroleum and Petrochemicals Mubadala Investment Company, Dr Rainer Seele, CEO of OMV and Erwin Ciputra, president director of PT Chandra Asri Petrochemical Tbk and PT Chandra Asri Perkasa, reported Emirates news agency Wam.

The agreement affirms the intention to explore potential opportunities for collaboration in the area of petrochemicals in Indonesia. The companies will set up working groups to jointly define a schedule for the evaluation of the opportunities.

'We have been active in Indonesia for over 10 years through our portfolio companies operating across the value chain. We consider Indonesia a strategic market and are confident that this MoU will result in potential opportunities for Mubadala, our portfolio companies and key partners,' said Al Kaabi highlighting Mubadala’s history in the South East Asian market and growth opportunities in Indonesia.

Tradearabia

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