Gas group Linde to quadruple capacity on Jurong Island
A new US$1.4 billion (S$1.9 billion) complex on Jurong Island by industrial gases and engineering group Linde will be fully operational by 2023, and it will quadruple its capacity here to produce and supply hydrogen and synthesis gas.
A key reason for this is to support the multibillion-dollar expansion of ExxonMobil Asia-Pacific's integrated manufacturing complex, which will be its main client.
Such an investment is testimony to Singapore's focus on the long-term, setting the foundation for the next few decades, said Trade and Industry Minister Chan Chun Sing yesterday at the ground-breaking ceremony.
The complex will be integrated with Linde's existing gasification facility on Jurong Island, nearly tripling its size.
It will add around 70 high-value manufacturing jobs in Singapore to Linde's current headcount here of about 240.
Noting that Singapore is the world's fifth-largest petroleum exporter, Mr Chan said it needs to focus on its fundamentals to distinguish itself amid competition today.
The Republic needs to provide a stable and pro-business environment to attract long-term investors such as Linde and ExxonMobil, on top of having consistency and coherence in policymaking, he added.
SUPERIOR CONNECTIVITY
While Singapore may not be the cheapest location, it will surpass others in how it delivers value, he said.
"In recent times, despite the uncertainties, many significant investments have planted themselves in Singapore because of our superior connectivity not just in the air, land and sea dimensions, but also in the dimensions of our data, finance, talent, technology and regulatory connectivity."
ExxonMobil's project, also slated to be completed by 2023, will be able to increase production of low-sulphur fuel to meet the International Maritime Organisation's requirement that sulphur levels in ship fuels do not exceed 0.5 per cent by next January.
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