ExxonMobil planning halobutyl rubber plant

[SINGAPORE] ExxonMobil (EM), which is eyeing further Singapore plant investments to produce halobutyl rubber used to make tyres and inner tubes and premium resins for adhesives, is fairly "well-advanced" in terms of technical and economic studies for these projects, its chairman and CEO Rex Tillerson disclosed yesterday.

"Discussions with the Singapore government are ongoing, but there is no final investment decision (FID) yet," he said in an interview, though he declined to indicate a timeline for when FID can be expected.

He was elaborating on EM Chemical president Steve Pryor's remarks at the opening of its second petrochemical complex here on Wednesday, that the group was already planning the additional speciality plant investments here.