KUALA LUMPUR: Petronas Chemicals Group Berhad (PCG) will collaborate with PT AKR Corporindo Tbk (PT AKR) to distribute chemicals across Indonesia.
Methanol will be the first product to be distributed to customers in Indonesia.
According to a statement today, a joint venture company will be formed by the subsidiaries of PCG and PT AKR respectively for this purpose.
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.
Also present were PCG’s managing director/chief executive officer (MD/CEO), Datuk Sazali Hamzah and PT AKR’s president director group CEO Haryanto Adikoesoemo 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,” the statement stated.
Commenting on the partnership, Sazali said that Southeast Asia is an important market for Petronas, and having an established local partner in Indonesia with a strong logistic infrastructure and market presence would enable the company to grow their network and serve their 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.
Moreover, Haryanto also stated that PT AKR was 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.
“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,” he concluded.