Key petrochem projects on track
Straits Times 10 Feb 09;
THE petrochemical industry has received a double blow of falling global demand and oversupply from new production lines in the Middle East.
But the major projects committed in Singapore remain 'very much on track', Minister for Trade and Industry Lim Hng Kiang assured Parliament yesterday.
Oil giant Shell's US$3 billion (S$4.5 billion) cracker plant will start producing next year. A new Mitsui plant is also scheduled to start up by next year, among other projects. And in 2011, ExxonMobil's US$5 billion second petrochem complex will be ready.
These plants are expected to create about 1,000 jobs in the next few years, Mr Lim added. Spillover benefits are also anticipated, like extra business for small and medium-sized engineering companies that provide maintenance services.
The Government will continue to invest in more world-class research programmes, he said. It will also help engineering service providers handle bigger and more complex projects by lending them a hand in improving their project management, design engineering, machinery upgrading and maintenance management skills.
The petrochemical industry and our Southern Islands on the wildfilms blog.