SRC breaks ground for S$500m investment

Singapore

THE Singapore Refining Company (SRC) took another step forward with the long-delayed upgrading of its refinery on Monday, with a ground-breaking ceremony of the new facilities.

The installation of a new gasoline clean fuels facility and a cogeneration plant - which will cost over S$500 million - is expected to boost the refinery's competitiveness amid the current global refining overcapacity that has forced less sophisticated plants to shut down.