PT AKR Corporindo Tbk is a leading provider of integrated supply chain solutions and the largest private company for petroleum and basic chemicals trading and distribution in Indonesia, as well as the owner of several subsidiaries in coal mining and infrastructure and manufacturing.
The Company was the first national private enterprise to enter the non-subsidized petroleum sector since 2005, precisely after the Government deregulated the oil and gas sector through the Oil and Gas Law No 22 of 2001. Furthermore, the Company is also the first national private enterprise to be appointed by the Downstream Oil and Gas Executive Agency (BPH Migas) to distribute subsidized petroleum since 2010.
The Company which commenced in Surabaya, East Java as a trader and distributor of basic chemicals in 1960, has built competency and specialization in the distribution and logistics fields. The business was formally incorporated as PT Aneka Kimia Raya on November 28, 1977.
From 1980’s the Company commenced building logistics infrastructure such as tank terminals and bulk warehouses to store and distribute basic chemicals, and bulk warehouses in several major sea ports in Indonesia, enhancing its competency in the distribution business. Subsequently, in 1985, the Company relocated its head office from Surabaya to Jakarta.
The Company became a publicly listed company with an Initial Public Offering of 23% of its sharecapital to public investors during September 1994. On October 3, 1994, all Company shares were listed and traded at the Indonesia Stock Exchange (formerly Jakarta Stock Exchange and Surabaya Stock Exchange). During 2004, the Company name was changed from PT Aneka Kimia Raya Tbk to PT AKR Corporindo Tbk.
The Company has also expanded its operation into China. Khalista (Liuzhou) Chemical Industries Co. Ltd, a sorbitol manufacturer, was set up in 1996 and acquired by the Company in 2004. In 2006, the Company acquired five (5) river ports in Guigang, China and has invested in the development of the Ports.
The Company continues to expand its operational capabilities by building additional storage tank terminals and other infrastructure to strengthen its distribution business and logistics network. As at 2011, the Company had around 549,500 KL of tank storage facilities in several regions of Indonesia. The Company currently operates in ten (10) sea ports and nine (9) river ports in Indonesia and five (5) river ports in China.