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)
–
jb/ng
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/29/afx5165808.html
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.
