16 December 2011 14:42 [Source: ICIS news]
LONDON (ICIS)--Germany-based Evonik is planning to build a methionine amino acid plant in Singapore for around €500m ($649m), the specialty chemicals company said on Friday.
The plant will have a 150,000 metric tonne/year capacity, and will be built on Jurong Island, in Singapore, Evonik said.
The company added that the new plant is scheduled to begin operating in the second half of 2014, and will employ several hundred people.
The new facility combined with the expansion of four existing methionine production plants, located in the US, Germany and Belgium, will raise Evonik’s total annual capacity for amino acid to 580,000 metric tonnes from 2014 – an increase of over 60% in five years, the company said.
“Methionine is one of our core businesses, which we’re now strengthening considerably in the Asian growth market by making this major investment,” said CEO Klaus Engel.
“This also should bring us closer to our customers in Asia, and makes us a solid, reliable, long-term partner.”
($1 = €0.77)
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