Shell Singapore Pte Ltd (SSPL), a subsidiary of Shell plc, has finalised the sale of its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd. (CAPGC).

CAPGC is a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd.

The transaction was executed through the sale of shares in Aster Chemicals and Energy Pte. Ltd., a Singapore-incorporated, fully-owned subsidiary of SSPL.

This divestment aligns with Shell’s strategy to refine its Chemicals and Products business.

Despite this sale, Shell affirms its commitment to Singapore, maintaining its role as a key regional hub for marketing and trading activities.

A significant aspect of the agreement ensures that the staff at Shell Energy and Chemicals Park Singapore will retain their positions under the new ownership of Aster Chemicals and Energy Pte. Ltd.

This transition ensures continuity for the workforce and supports the ongoing reliability and safety of operations.

Shell will continue to support Singapore’s energy sector through its involvement in various energy products, including the supply and trading of liquefied natural gas.

Additionally, Shell is expanding its retail network and investing in electric vehicle charging infrastructure to support Singapore’s energy transition.

CAPGC is majority-owned and operated by Chandra Asri Group, with Glencore holding a minority stake through their respective subsidiaries.

Chandra Asri is a prominent chemical and infrastructure solutions company in Indonesia, serving manufacturing industries both domestically and internationally.

Glencore, a global diversified natural resource company, produces and markets over 60 commodities.