PT. AKR Corporindo, Tbk

BP-AKR and Citinine Property Development Signed Agreement to Build Dealer Owned Petrol Station in East Java

September 29, 2020

JAKARTA, September 29th' 2020 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ) announced that its JV Company, PT. Aneka Petroindo Raya (APR), Partnership between AKR & BP, has signed an agreement on Sep 26, 2020 to appoint Citinine Property Development as Dealer for building and operating BP-AKR Retail outlet in Gresik, East Java, as part of Citinine Grand Plaza project.

The signing of this agreement commences the second phase of APR expansion in Indonesia.   This second phase envisages opening of Dealer owned and operated BP-AKR retail outlets, to accelerate the growth process.   In the first phase, from early 2019 till to date, APR has opened 15 Company owned outlets, with 11 operating in Jabodetabek and 4 in Surabaya.      

Speaking on the Dealership agreement signing ceremony, Dealer Development Manager of APR Mr. Benny Octaviano stated that this agreement represents long-term cooperation between APR and Citinine.  This was reiterated by Citinine Director of Development and Service Mr. Dicky Reyhan.  The two organizations are working together to open several such outlets in Gresik and East Java.   Surveys of several locations have been conducted to select suitable sites.

The first Dealer Owned petrol station that will be developed is located on Jalan Tri Dharma, part of the Citinine Grand Plaza Gresik project. Grand Plaza Gresik is one of the largest shopping centers in Gresik, it is being developed into a lifestyle mall with hangout spots, cafes and entertainment facilities. 

Signing Agreement between Citinine Property Development and BP AKR 
for Building Dealer Owned Petrol Station in East Java

PT Aneka Petroindo Raya is owned 50.1% by PT AKR Corporindo Tbk and 49.9% by BP Downstream.   APR operates under the name of “BP AKR Fuels Retail”. The joint venture is developing and offering a differentiated consumer proposition by leveraging BP’s and AKR’s capabilities and expertise across Indonesia’s growing retail market.  The strategy of this JV is focused on delivering a strong, differentiated offer, built around top-quality fuels, lubricants and convenience for customers.

APR aims to meet Indonesia’s growing demand for fuels and provide superior convenience, as well as bring positive value to Indonesian consumers.

BP-AKR petrol stations offer 3 grades of gasoline in its retail outlets – BP90, BP92 and BP95, each containing BP’s special ACTIVE technology formula and BP Diesel; With ongoing use, BP gasoline with ACTIVE technology helps protect car and motorcycle engines against the build-up of dirt that can adversely affect the engine performance. BP-AKR not only sells petroleum but also develops Non-Fuel Revenue in its Outlets. BP has introduced its global practice by working with local partners and focusing on Non-Fuel Income complementing its core business. 

Division of Investor Relation
PT AKR Corporindo Tbk