PETROCHEMICAL giant Lanxess officially opened its 400 million euro (about $655.24 million) butyl rubber plant on Jurong Island on Tuesday.

The 150,000 sq m plant is the largest investment in the company's history, and its first venture in Singapore.

The plant will produce premium halobutyl rubber, used in car tyres, for the Asia Pacific reigon. It has a capacity of 100,000 metric tons.

The facility, expected to create 160 highly-skilled jobs, began operation in the first quarter of the year and production will be ramped up gradually.