Wedoany.com Report-Apr. 2, 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), a joint venture formed by Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. The deal, previously announced, was completed through the transfer of shares in Aster Chemicals and Energy Pte. Ltd., a Singapore-based company wholly owned by SSPL.
This move aligns with Shell’s strategy to refine its Chemicals and Products business by focusing on high-value operations. Despite the divestment, Shell maintains a strong presence in Singapore, which continues to serve as a key regional hub for its marketing and trading activities.
Employees at the Shell Energy and Chemicals Park Singapore will transition to Aster Chemicals and Energy Pte. Ltd. under CAPGC’s ownership. This ensures job continuity for staff while supporting the facility’s ongoing safety and operational consistency.
The transaction reflects Shell’s broader efforts to streamline its portfolio while preserving its commitment to Singapore as a vital operational base. The sale to CAPGC, a partnership between established players in the industry, marks a smooth handover of the site, maintaining its role in the region’s energy and chemicals landscape.
