JTC to spend $677m on Jurong Island expansion

02 October 2007 11:16  [Source: ICIS news]

SINGAPORE (ICIS news)--Singapore plans to invest more than Singapore dollar (S$)1bn ($677m) over the next five years on expansion plans for Jurong Island, said Philip Su, JTC Corp’s assistant chief executive officer on Tuesday.

 

Expansion plans include the construction of the S$700m Jurong Rock Cavern, the Jurong Island Checkpoint expansion, the construction of dormitories for workers on the Island, and the introduction of new third-party service providers of utilities and other services. 

 

About 150 more companies are expected on Jurong Island by 2015, he said in at the StocExpo Asia conference.

 

JTC expects the Stage 2 tender for the construction of the tunnels, caverns and the associated facilities for oil storage to be announced within the next two months.

 

The Phase 1 Feasibility Study on the construction of a Very Large Floating Structure (VLFS) concluded that the VLFS is technically feasible.

 

The feasibility study is expected to be completed by end-2008.

 

A conceptual design for the proposed 300,000 m3 unit was developed, and the cost was found to be comparable to land-based oil storage facilities, Su said.

 

The state-owned JTC previously announced plans to increase the size of Jurong Island by 14% to 3,200 hectares over the next few years.

 

($1=S$0.68) 

By: Joyce Khoo
+65 6780 4359

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly