KUCHING: Petronas Chemicals Group Berhad (PCG) today announced a collaboration with PT AKR Corporindo Tbk (PT AKR) to distribute chemicals across Indonesia.
A joint venture company will be formed by the subsidiaries of PCG and PT AKR respectively for this purpose.
PT AKR Corporindo Tbk is an Indonesian logistics and supply chain company, engaged in the trading and distribution of petroleum and basic chemicals with extensive network of liquid bulk and dry bulk storage, transportation facilities, and port operations.
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 chief executive officer Shakeel Ahmad Khan, while PT ANI was represented by its directors Mery Sofi and Nery Polim.
PCG’s managing director/chief executive officer (MD/CEO), Datuk Sazali Hamzah and PT AKR’s President Director Group CEO Haryanto Adikoesoemo were present to witness the first virtual signing for both parties that was held in Kuala Lumpur and Jakarta simultaneously.
The partnership leverages both companies’ strengths to bring greater value to Indonesia. At the same time, PCG 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.
Commenting on the partnership, Sazali said, “Southeast Asia is an important market for us. 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.”
Meanwhile, PT AKR’s Haryanto commented, “We are excited to be partnering with one of the largest integrated chemicals producer in Southeast Asia. Our partnership with PCG marks a significant step in our expansion strategy and strengthens our position as one of the major petroleum and chemicals distributors in Indonesia.
“PT AKR with over six decades of experience in delivering reliable, efficient logistics and supply chain solutions with infrastructure such as seaports, river ports, terminals and marketing network is ready to support this joint venture.
“We are confident that together we have unmatched capabilities to deliver high-value innovative solutions to customers across Indonesia.”