PCS announces the building of Naphtha Import Facilities
Petrochemical Corporation of Singapore (Private) Limited [PCS], a [Singapore-incorporated] company jointly owned by Japan-Singapore Petrochemicals Company Limited (led by Sumitomo Chemical Company, Ltd) and QPI and Shell Petrochemicals (Singapore) Pte Ltd, announces today that it will be building a new Naphtha Import Facilities.
The US$80 million Naphtha Import Facilities will include storage tanks, a liquid berth capable of handling large vessels transporting naphtha and its associated facilities.
The Naphtha Import Facilities project is a major strategic investment to ensure PCS continues to remain competitive and continues to be relevant in this industry.
“This project will significantly strengthen our naphtha import logistics giving us not only better efficiencies but also the ability to optimize the feed to our crackers to maximize value. It is also in response to the global trend of moving naphtha in larger vessels. The project will help ensure PCS continues to be a reliable supplier to all our customers with smooth and stable operations,” said Mr A Yonemura, Managing Director PCS.
“Enhancing feedstock optionality will improve the ability of the sector to capitalise on changes in the external environment. PCS is a core part of Singapore’s Energy & Chemicals ecosystem, and further improving its cost competitiveness will generate positive knock-on effects for the industry,” said Mr Damian Chan, Executive Director, Energy & Chemicals, Singapore Economic Development Board. “We are committed to working with companies to explore avenues to boost the sector’s resilience such that we remain the trusted location that delivers value and sustainable growth for the future.”
The project is targeted to be ready by 3Q 2017 and to start operations by 4Q 2017.