ExxonMobil Chemical Company has decided to build another Multi-Billion Dollar Complex in Singapore
According to reports by the Straits Times, they will build a new international standard steam cracker complex on Jurong Island. This will be the second steam cracker complex for the company and its Singapore's fifth. This together with the existing operation on Jurong Island will enable it to produce 1 million tons of ethylene, 1.3 million tons of polyethylene, 450,000 tons of polypropylene, 300,000 tons of specialty elastomers.... This new facility will come on board in early 2011.
"Over the next 10 years, we expect that some 60 percent of the world's petrochemical growth will occur in Asia. Over one-third of that growth will be in China," said Mr. Sherman Glass Jr, Senior Vice-President of Exxon Mobil Chemical Company.
Source: The Straits Times
This yet another Mega Investment will only propel Singapore's vision to be a mega petrochemical hub... it will serve also to catapult Singapore's own growth.
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