SINGAPORE - Belgian logistics giant Katoen Natie on Friday opened a $50 million annex to its Jurong Logistics Terminal at Jurong Island, taking its total investments here to $200 million.
The firm also announced new logistics contracts with three petrochemical companies - Borouge, Evonik and Lanxess - which are expected to generate a revenue of some $250 million over the next five years.
The contracts will create some 50 to 60 new jobs here by March next year, said Katoen Natie in a statement.
"The new expansion will increase our logistics capacity at this terminal by some 45 per cent," said Mr Koen Cardon, chief executive of Katoen Natie Singapore, to some 120 clients and government officials at the opening ceremony today.
"This expansion is probably the largest single step expansion in our 160-year company history."