BAKU, Azerbaijan, April 1. Shell Singapore Pte Ltd (SSPL), a subsidiary of Shell plc, has finalized the sale of its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd. (CAPGC). CAPGC is a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd., Trend reports.
The transaction was carried out through the sale of shares in Aster Chemicals and Energy Pte. Ltd., a fully-owned subsidiary of SSPL incorporated in Singapore.
This divestment aligns with Shell’s strategy to refine its Chemicals and Products business. Despite the sale, Shell remains committed to Singapore as a key regional hub for its marketing and trading operations.
Employees of Shell Energy and Chemicals Park Singapore will continue their roles under the new ownership of Aster Chemicals and Energy Pte. Ltd., ensuring continuity in operations and maintaining safety and reliability.
