Dubai: The Mercantile and Maritime Energy Pte. Ltd. (MENA), a part of the Dubai-based Mercantile and Maritime Group, has signed a Memorandum of Understanding (MoU) with Indonesia's Ministry of Cooperatives (KEMENKOP) and the Indonesian Cooperatives Council (DEKOPIN). The MoU focuses on a 'Synergy of Investment and Partnership for the Development of a Used Cooking Oil Ecosystem through Cooperatives in Indonesia.'
According to Emirates News Agency, the agreement designates cooperatives as the central players in the collection and development of Indonesia's used cooking oil (UCO) value chain. It also establishes a long-term partnership with one of the UAE's leading private-sector energy groups.
The collaboration contributes to the UAE's renewable-fuels ecosystem. MENA Biofuels, a subsidiary of the Mercantile and Maritime Group, is currently developing the UAE's first commercial Sustainable Aviation Fuel (SAF) production facility in Fujairah. Partnerships like this support the nation's Sustainable Aviation Fuel Roadmap 2030 and its Net Zero 2050 ambitions.
Murtaza Lakhani, CEO and Founder of Mercantile and Maritime Group, emphasized the significance of the MoU, stating that it marks an important first step. He highlighted MENA's commitment to investing in cooperatives and sectors that have been largely overlooked by investors, focusing on building transparent and inclusive value chains with local partners in Indonesia.
Ferry Joko Yuliantono, Indonesia's Minister of Cooperatives, remarked that the cooperation encourages cooperatives to ascend the value chain and become part of a modern, digitized supply chain connected to global markets. The government aims to ensure policies and facilitation that allow cooperatives to grow while delivering economic and environmental benefits to the community.
Bambang Haryadi, Chairman of the Indonesian Cooperatives Council (DEKOPIN), stated that DEKOPIN will be involved in identifying cooperatives ready to participate in the initiative. This will help cooperative members gain better access to financing, mentoring, and secure offtake arrangements.