"MENA ENERGY" Signs a memorandum of understanding with the Indonesian Ministry of Cooperatives

JAKARTA, 5 December / WAM / MENA Energy, a subsidiary of the Dubai-based Mercantile and Maritime Group, signed a memorandum of understanding with the Ministry of Cooperatives of the Republic of Indonesia and the Indonesian Council of Cooperatives with the aim of coordinating investment and partnership to develop the used cooking oil system through cooperatives in Indonesia.

This memorandum aims to develop a national system for collecting and processing used cooking oil throughout Indonesia on the basis of the cooperative movement, so that cooperatives become the main actor in the value chain of used cooking oil, thus establishing a long-term partnership between them and one of the most active private energy groups in the UAE.

This cooperation also contributes to supporting the renewable fuel system in the UAE, as MENA Biofuels, a subsidiary of the Mercantile and Maritime Group, is developing the first commercial facility for the production of sustainable aviation fuel in Fujairah.

Partnerships to supply sustainable raw materials such as used cooking oil are an essential element in supporting the UAE’s sustainable aviation fuel roadmap and contributing to achieving climate neutrality goals.

Murtaza Lakhani, founder and CEO of Mercantile & Maritime Group, said: “The memorandum of understanding represents an important first step, and MENA will continue to invest in cooperatives and in sectors that have long been neglected by investors, including the development of the used cooking oil system, adding that the company’s focus is not limited to injecting capital only, but includes building real, transparent and inclusive value chains in cooperation with its local partners throughout Indonesia.”

For his part, His Excellency Frei Juliantono, Minister of Cooperatives of the Republic of Indonesia, said: Through this cooperation, cooperatives will be encouraged to move up the value chain and join a modern, digital system connected to global markets. The government will work to provide the necessary policies and facilities for cooperatives to grow in a healthy manner, while achieving economic and environmental benefits for society at the same time.

For his part, Bambang Hariyadi, Chairman of the Indonesian Council of Cooperatives, said: The Council will play a role in determining which cooperatives are eligible to join, allowing its members to obtain better financing opportunities, guidance and guidance programs, and more stable and secure purchasing arrangements.

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