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Mubadala, OMV & Chandra Asri sign MoU for Collaboration in The Petrochemical Sector

Gasoil News - Published on Mon, 29 Jul 2019

Image Source: Trade Arabia
Mubadala, OMV, Chandra Asri Petrochemical have signed a MoU to explore opportunities for collaboration in the petrochemical sector in Indonesia. The signing of the agreement was witnessed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and His Excellency Joko Widodo, President of the Republic of Indonesia. The agreement was signed by Mr Musabbeh Al Kaabi, CEO of Petroleum & 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. The MoU documents 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.

Mr Musabbeh Al Kaabi said that “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.”

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Posted By : Sanju Moirangthem on Mon, 29 Jul 2019
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