AKRA & Petronas formed a new joint venture subsidiary - PT Anugerah Kimia Indonesia

JAKARTA, 1 December’ 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), is pleased to announce the establishment of PT Anugerah Kimia Indonesia (AKI) to conduct distribution of chemicals product.  A Deed of Establishment was signed on Nov 27, 2020 between PT AKR Niaga Indonesia (a subsidiary of PT AKR Corporindo) and PETRONAS Chemicals Marketing Sdn Bhd (a subsidiary Petronas Chemical Group Berhad “PCG”).  

The establishment of AKI follows the agreement signed between AKR and PCG on August 28, 2020 to collaborate and to distribute chemicals product across Indonesia.  The joint venture leverages on both companies’ strengths to bring greater value to Indonesia. At the same time, PCG and PT AKR will work together to deliver innovative customer solutions to meet customers’ diverse needs. Methanol will be the first product to be distributed to customers in Indonesia.

On the establishment of AKI, The President Director of PT AKR Corporindo Mr. Haryanto Adikoesoemo said, “This marks the next step forward in our partnership with PCG to meet Indonesia’s growing demand of basic chemicals.  This is in line with AKR strategy to build physical infrastructure across Indonesia and create partnerships to utilize them to efficiently deliver quality products.   We expect economic recovery in 2021 and together with government initiatives like Job Creation Law, expect a strong recovery in demand for Chemicals and other products.  With the establishment of AKI, we are well positioned to meet this demand growth”

AKRA’s experience in serving basic chemical market in Indonesia for 60 years will synergized with PCG. PETRONAS Chemicals Group Berhad (PCG) as a leading integrated chemical manufacturer in Malaysia and one of the largest in Southeast Asia will provide world class basic chemical products. And AKRA will provide logistics and supply chain solution to handle these chemical products, including the marketing. 

Investor Relation

PT AKR Corporindo Tbk