APIC ’12: Singapore ethylene capacity to almost double by 2014

18 May 2012 07:15  [Source: ICIS news]

KUALA LUMPAR (ICIS)--Singapore’s ethylene production capacity will almost double by 2014, as additional output comes on stream, its trade body said on Friday.

Tay Kin Bee, chairman of Singapore Chemical Industry Council, said the availability of new feedstock will enable higher valued downstream chemical manufacturing to be set up.

A projected capacity was not given, however in 2011; Singapore’s total ethylene capacity was 1.88m tonnes, according to a country report prepared by the SCIC.

Tay was speaking at the 34th annual Asia Petrochemicals Industry Conference (APIC) being held in Kuala Lumpur on 17-18 May.

Singapore’s chemical industry’s output in 2011 rose by 19.6% to Singapore dollar (S$) 97.2bn ($77bn), up from S$81.3bn in 2010.

SCIC said that its chemical cluster continues to be a key contributor and has re-taken its position as the leading cluster within the manufacturing sector, contributing about 34% to the overall manufacturing output in 2011.

Tay said that to spur the growth of the chemical industry further, the Singapore government is also increasing the funds available for research and development (R&D).

“Both the private sector and the Singapore government have been increasing the gross expenditure on R&D and is expected to increase from 2.3% of the nation’s GDP in 2009 to a target of about 3.5% by 2015,” he added.

“This augers well for the industries, especially for the chemical industry, as the investments in R&D will spin off many areas of activities and create higher technical knowledge and skill based employees for companies engaging into the production of higher valued specialty chemicals for Singapore,” Tay said.

Meanwhile, he said that global economic conditions will be subdued in the near term but the rise of the middle class in Asia will spur demand for quality consumer products.

Additional reporting by Heather Doyle

($1 = S$1.27)

By: Franco Capaldo
+44 (0)20 8652 3214

AddThis Social Bookmark Button

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