ExxonMobil broke ground on Tuesday morning for two new specialty polymer units at its chemical plant here, as part of the Singapore Butyl and Adhesion (SBA) project.
The new halobutyl rubber and hydrogenated hydrocarbon resin production facilities will each add production capacity of 140,000 tons and 90,000 tons a year.
Halobutyl rubber is used in the tire industry while hydrogenated hydrocarbon resin is used as an adhesive at elevated temperatures.
The company's investment is a commitment broadly shared by the energy and chemicals industry here, said Minister in the Prime Minister's office and Second Minister for Home Affairs and Trade and Industry S Iswaran.
"Over the past two years, the industry has attracted more than $10 billion of investment, bringing the cumulative investments in Jurong Island to more than $43 billion," he noted at the groundbreaking ceremony.
Over the same time, 13 plants have commenced operations on the Island.
He added that while the energy and chemicals sector worldwide is witnessing "profound changes" - with the shale gas revolution in the United States providing the country cheap energy and feedstock options - Singapore will continue to compete on the basis of integration and innovation in this sector.
"The high value-added, specialty SBA project is a clear demonstration of the effectiveness of this strategy," said Mr Iswaran.