Singapore Lube Park, the first shared lubricants facility in the Asia-Pacific, opened yesterday.
The Tuas plant houses shared facilities such as an import-export jetty, pipelines and a tank farm with a capacity of 159,000 cubic m.
It was designed and built by Singapore firms Rotary Engineering and Antara Koh for a joint venture between Shell Eastern Petroleum, Sinopec Lubricant (Singapore) and Total Oil Asia-Pacific.
The companies did not disclose the development cost of the facility, which was established with help from the Economic Development Board (EDB) and JTC Corporation.
The facilities will support the joint venture partners' lubricants and grease plants, located on separate sites adjacent to the park. Around 60 people work at the park.
The Lube Park said in a statement yesterday that Singapore has "long been a strategic lubricants hub" for both Shell and Total, from which they have been supplying products to their respective customers and markets in the Asia-Pacific.
Sinopec's lubricants and grease plants have been in operation in Tuas since 2013, and "have been playing a significant role in its business expansion in Asia-Pacific", it added.
The Lube Park also said the Asia-Pacific region, which accounts for 44 per cent of the global market for finished lubricants demand, has "immense market potential".
It noted that the number of vehicles on the roads in South-east Asia, for instance, is expected to exceed 90 million by 2030, while the Asia-Pacific is expected to dominate the worldwide marine lubricants market by this year.
"Located at the heart of this dynamic and fast-growing region, and with world-class logistics and excellent connectivity, Singapore offers companies like Shell, Total and Sinopec a strong base from which to access this growth in Asia."
EDB assistant managing director Lim Kok Kiang said: "This project exemplifies Singapore's effort to foster win-win partnerships between companies to achieve synergies and optimise resources such as land."