Sembcorp, Aster sign $650m deals for utilities support in Southeast Asia

Sembcorp will provide integrated gas, power, and utilities services to Aster’s refining and chemical facilities.

Sembcorp Industries and Aster Chemicals and Energy have signed commercial agreements valued at over $650m to support energy and utilities operations in Southeast Asia.

Under the agreements, Sembcorp will provide integrated gas, power, and utilities services to Aster’s refining and chemical facilities on Pulau Bukom and Jurong Island.

In addition, both companies signed a six-month memorandum of understanding to explore further collaboration in the region.

Areas identified for potential cooperation include cogeneration and utilities projects, regional gas procurement, joint infrastructure investments, and the development of industrial parks in Indonesia.

Sembcorp stated that the agreements are not expected to have a material impact on its earnings per share or net tangible assets per share for the financial year ending 31 December 2025.