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Chandra Asri expands Singapore footprint with Changi Airport fuel stake
Chandra Asri Pacific and its joint venture, Aster, are executing a series of strategic acquisitions in Singapore to expand their presence in the energy, mobility, and aviation fuel sectors.
Aster, a joint venture between Indonesian petrochemical producer Chandra Asri and Glencore, has agreed to acquire a stake in the Changi Airport Fuel Hydrant Installation (CAFHI). This move allows Aster to enter the aviation fuel market by providing storage and distribution services at one of the world’s busiest aviation hubs. The transaction remains subject to regulatory approvals.
This acquisition follows several other major moves by the Chandra Asri Group in the region. Recently, the company agreed to purchase the automotive dealership businesses of Jardine Cycle & Carriage in Singapore and Malaysia for approximately USD 207 million. Additionally, the group acquired ExxonMobil’s Esso retail fuel network in Singapore.
Aster is also focusing on sustainable aviation fuel (SAF) through partnerships, including a project with Aether Fuels at Pulau Bukom and work with Keppel’s infrastructure division to develop ethanol-to-jet facilities on Jurong Island.
Entities
Aster · Chandra Asri Pacific · Changi Airport Fuel Hydrant Installation · Glencore · Jardine Cycle & Carriage
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Aster is partnering with Aether Fuels to develop a sustainable aviation fuel manufacturing facility at Pulau Bukom. bitcoinethereumnews.com · www.businesstimes.com.sg
- [● 2 SOURCES] Aster has agreed to acquire a stake in Changi Airport Fuel Hydrant Installation (CAFHI). bitcoinethereumnews.com · www.businesstimes.com.sg
- [○ 1 SOURCE] Chandra Asri Pacific agreed to buy Cycle & Carriage’s businesses in Singapore and Malaysia for approximately USD 207 million. afma.org.au
- [● 2 SOURCES] Chandra Asri acquired ExxonMobil’s Esso retail fuel network in Singapore. afma.org.au · www.businesstimes.com.sg
- [● 2 SOURCES] The CAFHI stake acquisition is subject to regulatory approvals and customary closing conditions. bitcoinethereumnews.com · www.businesstimes.com.sg
- [○ 1 SOURCE] Aster is a joint venture between Chandra Asri and Glencore. www.businesstimes.com.sg