Shell Singapore has completed the sale of its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital and Glencore Asian Holdings. The transaction was executed through the sale of shares in Aster Chemicals and Energy Pte. Ltd., a fully owned subsidiary of SSPL incorporated in Singapore. This divestment is part of Shell’s strategy to focus on its Chemicals and Products business while maintaining Singapore’s role as a key regional hub. Employees at the facility will continue their roles under the new ownership, ensuring operational continuity.
Photo credit: Canva
Source: Storage Terminals Magazine
Read the article from the source here
Share This Post
