Mubadala, OMV, and PT Chandra Asri firms sign petrochems MoU

Companies to jointly explore investment and collaboration opportunities in Indonesia's petrochemicals sector

Mubadala is among the UAE's largest companies.
Arabian Business
Mubadala is among the UAE's largest companies.

The UAE’s Mubadala has signed a memorandum of understanding (MoU) with OMV, PT Chandra Asri Petrochemical TBK, and PT Chandra Asri Perkasa to explore collaboration opportunities in Indonesia’s petrochemicals sector.

Mubadala’s chief executive officer for petroleum and petrochemicals, Musabbeh Al Kaabi, signed the MoU with OMV’s CEO, Dr Rainer Seele, and president of PT Chandra Asri Petrochemical TBK and PT Chandra Asri Perka, Erwin Ciputra.

All companies involved in the MoU will set up working groups to jointly define a schedule for the evaluation of potential petrochems investment opportunities in Indonesia, the UAE’s state news agency, Wam, reported.

Commenting on the MoU, Al Kaabi said: “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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