Monday, April 23, 2012

Infineum breaks ground in S'pore

SINGAPORE: Infineum, a global provider of petroleum additives, has broken ground for its first salicylate plant outside Europe.

To be located in Singapore's energy and chemical hub Jurong Island, the plant will manufacture salicylate detergents, when fully operational in the fourth quarter of 2013.

This US$150 million (S$187 million) plant is Infineum's largest investment to date.

Infineum is a joint venture between Shell and ExxonMobil.

Salicylates are used as additives in motor oils for passenger cars and trucks, and also has applications in marine and gas engine oils.

The Singapore plant will serve the Asia-Pacific region and complement its sister plant located in Berre, France.

Infineum Singapore global business manager, specialities Lim Siang Yong said: "We invest only to meet the market growth.

"Our customers have told us that this market, especially in Asia Pacific, is going to grow significantly beyond the global average. And this is the reason why we invested in Singapore for the first salicylate plant."

Jurong Island currently hosts more than 95 global companies and has drawn cumulative fixed asset investments of over S$30 billion to date, according to Singapore's Economic Development Board.

- CNA/wk

View the original article here

Soource From Channel news Asia

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