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ExxonMobil’s US$5-6b complex sets new marks: PM

Asia Pacific Oil & Gas News

Ronnie Lim
The Business Times
Saturday, Jan 11, 2014

 

ExxonMobil’s (EM) new, second petrochemical complex here – costing an estimated US$5 billion-US$6 billion – is the US energy giant’s largest investment here and also Singapore’s largest manufacturing investment ever, said Prime Minister Lee Hsien Loong who opened the expansion yesterday, bringing EM’s total investment here to well over US$10 billion.

“But that’s not the end of the story,” EM Chemical’s president, Steve Pryor, assured, disclosing that the group was already planning additional specialty plant investments here, including for butyl rubber used for tyres, and premium resins for adhesives. “ExxonMobil views the Singapore complex as a platform for future growth,” he added.

In fact, EM’s top brass, led by group chairman and CEO Rex Tillerson, earlier met the Economic Development Board on Tuesday for discussions including on its future projects here, and followed this up yesterday with another meeting with…

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