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March 18 (straitstimes.com) --
Energy giant Royal Dutch Shell will officially open its highly anticipated
multibillion-dollar petrochemical complex in Pulau Bukom on May 4 - a project
almost five years in the making.
Chief executive Peter Voser told The Straits Times that the timing of the
opening of the complex - estimated to have cost US$3 billion (S$4.2 billion) -
was ideal, given the recent recovery of global markets.
Singapore Prime Minister Lee Hsien Loong will be the guest of honour, he
said.
Mr Voser shrugged off concerns of a supply overhang with new petrochemical
complexes also firing up in Thailand, China and the Middle East.
He said he was confident the market would be able to absorb the plant's
output of various widely used chemicals as demand for such products is picking
up.
One key competitive advantage of the new Shell Eastern Petrochemicals Complex
(SEPC) is its proximity to Shell's Bukom refinery, which is highly integrated
into the new complex, said Mr Voser. This will give SEPC the flexibility to use
different feedstock as demand changes.
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