ExxonMobil in talks to buy JAC plant

Singapore

EXXONMOBIL said on Wednesday that it is in talks to buy Jurong Aromatics Corporation (JAC), one of the largest petrochemical plants in the world which is in receivership.

"We can confirm that we are currently negotiating with the receiver for Jurong Aromatics Corporation Pte Ltd to acquire JAC's assets on Jurong Island," said a company spokeswoman. "While progress is being made, no agreement has been reached yet."

This confirms a report by The Business Times in January that ExxonMobil w…