Aster Chemicals and Energy has entered into a Sales and Purchase Agreement to acquire Chevron Phillips Singapore Chemicals Pte Ltd through its affiliate, Chandra Asri Capital Pte Ltd. CPSC, a joint venture between Chevron Phillips Chemical, EDB Investments Pte Ltd, and Sumitomo Chemical Company, Ltd., owns and operates a high-density polyethylene manufacturing facility located on Jurong Island, Singapore.
The shareholders of CPSC unanimously approved the sale, demonstrating their confidence in Aster and its long-term strategic vision. The acquisition is expected to enhance Aster’s regional presence and value chain integration, supporting future growth and development within the chemical and energy sector.
CPSC’s polyethylene facility has an annual production capacity of 400 kilotonnes per annum (KTA). This acquisition complements Aster’s extensive industrial base, which includes a 237,000-barrel-per-day fully integrated refinery, a 1.1 million metric tonne ethylene cracker on Bukom Island, and existing downstream chemical assets on Jurong Island.
Upon completion of the transaction, CPSC will become part of the Aster group of companies. The integration is set to strengthen Aster’s position as a leading chemical and infrastructure player in the region and will open new avenues for collaboration, innovation, and value creation across its operations.
Erwin Ciputra, Group CEO of Aster, commented:
“This acquisition represents a significant milestone for Aster. It supports our strategic goals by adding new capabilities and strengthening the solutions we provide to our customers. CPSC’s manufacturing operations will enhance our ecosystem and advance opportunities for innovation and collaboration. We are pleased to welcome CPSC to the Aster group of companies and, together with its talented team, I am confident we will reach new heights of growth for our industry.”
This acquisition marks another step in Aster’s continued expansion and commitment to delivering integrated, sustainable solutions across the energy and chemical sectors.
For more information visit www.aster.com.sg
