Chevron Phillips Chemical (CPChem) will sell 100 per cent of Chevron Phillips Singapore Chemicals to Aster Chemicals and Energy, a JV between Chandra Asri and Glencore.
CPSC operates a 400 KTA HDPE plant in Singapore.
Around 150 employees may join Aster.
CPChem retains its Asia HQ in Singapore.
The deal aligns with CPChem’s strategy and awaits closing conditions.