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Singapore - Shell Singapore Pte Ltd (SSPL) has completed the previously announced sale of its energy and chemicals park in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital and Glencore Asian Holdings.

The divestment is aligned with Shell’s ongoing efforts to “high-grade” its chemicals and products business, according to a 1 April statement.

Shell announced the decision to sell its Singapore assets in 2023 as part of a wider strategy to “create more value with less emissions.”

The group’s operations in Singapore are located on the two islands of Pulau Bukom and Jurong and include a 155 kilotonnes per annum (ktpa) butadiene extraction unit.

Shell was also building its first “pyrolysis oil upgrader unit” at Bukom, which was slated for start-up in 2023.

With the planned capacity of 50ktpa, the unit processes pyrolysis oil, made from waste polymer into feedstock for the ethylene cracker complex.