By Nathan Allen

OMV AG (OMV.VI) said Wednesday that it has signed a preliminary agreement with Chandra Asri Petrochemical (TPIA.JK) and Mubadala Development Co. to explore a possible collaboration on petrochemicals in Indonesia.

The three companies will set up working groups to define a schedule for the cooperation, OMV said.

"We are very pleased with Mubadala and OMV's expressed interest to explore opportunities to invest in our new world-scale petrochemical complex," Chandra Asri Chief Executive Erwin Ciputra said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 24, 2019 03:59 ET (07:59 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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