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Shell Chemicals seeks partners for new $500 million Singapore facility – report

Thomson Financial News

Shell Chemicals seeks partners for new $500 million Singapore facility – report

06.29.08, 10:05 PM ET

SINGAPORE (Thomson Financial) – Shell Chemicals, the petrochemicals unit of Royal Dutch Shell, is seeking potential partners for a $500 million styrene monomer/propylene oxide (SMPO) manufacturing facility it plans to build in Singapore, the Business Times reported on Monday, quoting a senior company executive.

Strong demand for SMPO, which are chemicals used in the production of polystyrene containers and rubber soles, is underpinning the project, said Fang Yea-Yee, Shell Chemical’s general manager for SMPO and derivatives.

‘A lot of work is going on and we are in discussions with possible joint venture partners,’ Fang said.

Shell Chemicals has an existing SMPO joint venture with Germany’s BASF (nyse:BF – news – people ) in Singapore. The joint venture company, called Ellba Eastern, produces 250,000 tonnes of propylene oxide and 550,000 tonnes of styrene monomer annually.

‘Shell believes the strong growth in the Asia-Pacific demand for both styrene and propylene oxide will continue to create attractive opportunities for new SMPO investments,’ Fang said.

($1=S$1.36)

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