OREANDA-NEWS. July 30, 2014. The joint venture company, to be headquartered in Singapore and proposed to be known as “Sinarmas Cepsa Pte Ltd”, is expected to benefit from both companies’ expertise, knowledge and capabilities throughout the fatty alcohols supply chain (from the procurement of raw materials to the commercialization of the final products).

The proposed Joint Venture is subject to the satisfactory completion of certain conditions precedent.

JesslyneWidjaja, Director, Corporate Strategy and Business Development of GAR said, “This strategic partnership is a further step towards theachievement of GAR’s growth strategy in widening its product portfolio and shifting product mix to higher value-added products.Through the partnership with CEPSA, GAR will enhance its expertise in the development, formulation and production of fatty alcoholsas well as further expand its worldwide distribution network.”

In the words of Fernando Iturrieta, Petrochemical Senior Vice-President of CEPSA, “Through the partnership with GAR, CEPSA enters into the oleochemical sector to develop together a new line of business. It also offers confirmation that CEPSA is a relevant player in Asia, where we are already conducting activities to explore and produce hydrocarbons, market by-products, and work with petrochemicals”.