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Shell may undertake 1 bln usd Singapore petrochem project on its own – report

AFX Europe (Focus): Shell may undertake 1 bln usd Singapore petrochem project on its own – report

Sept 14, 2004

SINGAPORE (AFX) – Shell Chemicals may build its third petrochemical cracker facility in Singapore on its own if its existing partner Sumitomo Chemical decides not to participate in the 1 bln usd project, the Business Times reported, citing a senior Shell Chemicals executive.

Shell Chemicals and Sumitomo Chemicals are partners in two existing petrochemical crackers on Jurong Island, Singapore’s petrochemical hub, but Sumitomo said in May that it was not keen on investing in a third facility in Singapore.

Shell Chemicals executive vice president Tan Ek Kia told the newspaper that there are several options for the project.

“One is that Shell Chemicals will move into the next phase (of the project) alone,” Tan said.

The project’s feasibility study has been completed, he added.

“The most attractive point is that the plant will be able to use various feedstock, based on full integration with existing Bukom refinery… This will generate cost competitiveness,” Tan said.

(1 usd = 1.69 sgd)

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