Petrochemical Corporation of Singapore (PCS) will invest US$80 million (S$110 million) in new naphtha import facilities here, including storage tanks and a liquid berth to handle large vessels.
In a press statement issued yesterday, PCS managing director A. Yonemura said the project was in response to the global trend of moving naphtha to larger vessels and will strengthen the companies import logistics, giving it better efficiencies.
The project "will help ensure PCS continues to be a reliable supplier to all our customers with smooth and stable operations", Mr Yonemura said.
The project is targeted to be ready by the third quarter of next year and expected to start operations by the fourth quarter.
PCS is jointly owned by Japan-Singapore Petrochemicals Company (led by Sumitomo Chemical), Qatar Petroleum International and Shell Petrochemicals (Singapore).
The company operates two crackers on Jurong Island, supplying petrochemical building blocks such as ethylene and propylene to industrial customers.
Naphtha is currently stored in tanks leased from other companies. The new facilities will include storage tanks, a liquid berth capable of handling large vessels transporting naphtha and its associated facilities, the release said.
Mr Damian Chan, executive director of energy and chemicals at the Economic Development Board, said improving its cost competitiveness will have a positive knock-on effect for Singapore's energy and chemicals ecosystem of which PCS is a core part.