Sembcorp Industries and Aster Chemicals and Energy have announced a significant partnership to advance energy and utilities projects in Southeast Asia, with contracts exceeding S$65m. The collaboration will see Sembcorp providing a comprehensive range of gas, power, and utilities solutions to Aster’s integrated refining and chemical complex located in Pulau Bukom and Jurong Island.
The two companies have also signed a Memorandum of Understanding (MOU) to explore strategic initiatives across Singapore, Indonesia, and the wider Southeast Asian region. This MOU, valid for six months, aims to foster collaboration on cogeneration and utilities projects, regional gas procurement, joint infrastructure investments, and the establishment of industrial parks in Indonesia. These efforts align with their shared vision for sustainable growth and addressing the region’s rising energy demands.
Erwin Ciputra, Group CEO of Aster, highlighted the partnership’s potential, stating, “Our partnership with Singapore’s leading energy provider brings together the strength of two companies to shape the future of energy and environmental stewardship for our region.” Koh Chiap Khiong, President & CEO of Gas and Related Services at Sembcorp, added, “This collaboration reinforces our commitment to support the growth of critical assets in the region.”
Whilst the agreements are substantial, they are not expected to materially impact Sembcorp’s earnings per share or net tangible assets per share for the financial year ending 31 December 2025. The partnership marks a significant step towards sustainable energy solutions in Southeast Asia.
“`
