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Shell to decide next year on another petrochem project in Singapore – report

AFX Europe (Focus): Shell to decide next year on another petrochem project in Singapore – report

Royal Dutch Shell PLC chief executive Jeroen van der Veer said the company will decide next year whether to build another multi-billion dollar ethylene cracker in Singapore…”: “Shell has invested many billions of dollars in Singapore, and we are still not at the end of it,” he said.”

Thursday 15 Sept 2005

SINGAPORE (AFX) – Royal Dutch Shell PLC chief executive Jeroen van der Veer said the company will decide next year whether to build another multi-billion dollar ethylene cracker in Singapore, the Business Times reported.

“The cracker is a huge investment…We are doing a detailed study and expect to finish this by 2006, when we move to the final investment decision stage, which is the point of no return,” Van der Veer said.

“If we give the green light, we’ll start up the project three years after that,” he added.

He said the company intends to grow its 6 bln usd refining and chemical business here. It has refinery and petrochemical facilities on Jurong Island.

“Shell has invested many billions of dollars in Singapore, and we are still not at the end of it,” he said.

(1 usd = 1.67 sgd)

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