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Germany's Evonik to invest over S$750m in second amino acid plant in Singapore (Amended)
GERMAN chemical firm Evonik is building a second methionine plant in Singapore, less than two years after it opened its first in the country.
The second plant will double the group's production capacity in Singapore to 300,000 tonnes each year, making Jurong Island the site of the group's largest methionine production site in the world.
Representing an investment of over 500 million euros (S$762 million), the second methionine plant will help Evonik meet growing demand on the back of increased consumption of meat in the Asia-Pacific, said the group. Methionine is an essential amino acid used in animal feed.
Expected to start operations in 2019, the plant will create about 150 jobs, on top of the 200 headcount that the group already has in its current methionine plant.
"Our methionine complex, which came onstream in late 2014 on Jurong Island, is a success story. This led to our decision to build a second plant next to it," said Evonik's chairman, Klaus Engel.
The Singapore Economic Development Board (EDB) said that Evonik's decision to build a second plant so soon after the first is a vote of confidence in Singapore's appeal for high-value manufacturing.
Said EDB chairman Beh Swan Gin: "The Asian growth story remains a bright spot despite the uncertain global economic environment, and Singapore is well placed to help international companies pursue opportunities in this region."
Amendment note: An earlier version of the article said that Evonik on Jurong Island will become the largest methionine production site in the world after the second plant starts running. This has been revised to reflect that it will become Evonik's largest methionine production site.