Aster marks third Singapore deal with Changi Airport fuel infrastructure stake
The acquisition follows parent Chandra Asri’s purchases of Cycle & Carriage and Esso’s Singapore petrol stations
Aster, an Indonesian petrochemical producer in joint venture with Glencore, has acquired a stake in Changi Airport Fuel Hydrant Installation (CAFHI) in Singapore. This marks the third acquisition by Aster in under a year, strengthening its position in aviation fuels. The transaction complements Aster's growing capabilities in sustainable aviation fuel and its refining and storage operations.
Andre Khor, deputy CEO of Aster, stated that the acquisition is a significant step in the company's expansion into aviation fuels. The deal is subject to approval and meeting customary closing conditions.
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