Exxon acquires Singapore aromatics plant

Singapore

HOUSTON, August 28, 2017 – The sale of Jurong Aromatics Corporation’s giant Jurong Island aromatics plant to ExxonMobil’s Singapore affiliate has closed, the super-major announced on Sunday.

The value of the deal, which was struck in May, was not disclosed. The facility, which has a capacity of 592,000 bpd, is one of the largest in the world.

“This strategic investment in our aromatics business in Singapore is a reflection of our ongoing commitment to meet the growing global demand for chemical products, particularly in Asia Pacific,” Karen McKee, a senior vice-president at ExxonMobil Chemical Company, said in a statement. “As a leading global manufacturer of aromatics, we are well positioned to serve our customers in these key markets.”

The sale will raise ExxonMobil’s local production to 3.5 million tonnes of aromatics per year, including 1.8 million tonnes of paraxylene, the press release added.