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ExxonMobil completes acquisition of Jurong Aromatics Corporation's Jurong Island plant
EXXONMOBIL has completed its acquisition of Jurong Aromatics Corporation's Jurong Island plant, one of the largest aromatic facilities in the world.
The deal, for an undisclosed sum, was first announced in May this year.
The facility has an ethylene production capacity of 1.9 million tonnes each year. It will boost ExxonMobil's Singapore aromatics production to over 3.5 million tonnes each year, including 1.8 million tonnes of paraxylene, and add 65,000 barrels a day of transportation fuels capacity.
ExxonMobil Asia-Pacific's chairman and managing director Gan Seow Kee said that the integration of the aromatics plant with the firm's existing manufacturing facility will help it to better serve its customers in key Asian growth markets, and further establish Singapore as a hub for global trade and economic progress.
"We have rehired a majority of the qualified employees from JAC," he added. "Their knowledge and expertise will help to ensure its continued safe and reliable operations."