Mitsui to proceed with Singapore petchem project

Mitsui Petrochemical Industries Ltd., Japan's second largest petrochemical company, has decided to proceed with plans for a $180 million phenol plant on Jurong Island, site of Singapore's massive new petrochemical complex under development. Against the backdrop of a depressed Asian petrochemical market, this will be Mitsui's second major investment in the island republic and a boost for Singapore's new chemical hub. There is also a possible third Mitsui investment in the offing. Work on the 200,000 metric ton/ year phenol plant will start in August, with mechanical completion set for March 2001 and the project slated for commercial start-up by September 2001,...

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