The plant is one of the largest in the world with an annual production capacity of 1.4 million tonnes, and the the company expects to complete the transaction in the second half of 2017.
Singapore is home to ExxonMobil’s largest integrated refining and petrochemical complex, which has a crude oil processing capacity of 592,000 barrels per day and includes two world-scale steam crackers. Acquisition of the Jurong aromatics plant will increase ExxonMobil’s Singapore aromatics production to over 3.5 million tonnes per year, of which 1.8 million tonnes is paraxylene.
ExxonMobil has operated in Singapore almost since its foundation, and is one of the country’s largest international manufacturing investors. Singapore’s integrated petrochemical complex can process a wide range of feedstocks, from light gases to crude oil. Later this year, the complex will begin the phased start-up of new 230,000 tonne-per-year specialty polymers facilities that will produce halobutyl rubber and performance resins for adhesive applications.