JTC to build new road link and barging terminal for energy and chemical firms
JURONG Island will be getting a new road link and barging terminal to support its growing energy and chemicals cluster.
Industrial landlord JTC Corporation unveiled these new projects yesterday as it celebrated the end of reclamation works on the island – 21 years ahead of schedule.
Jurong Island was formed by merging seven southern offshore islands with a total land mass of 991ha. Reclamation began in 1995 and was targeted for completion in 2030. But JTC sped up the project as demand for land on Jurong Island surged and exceeded expectations.
In 2000, there were 61 petrochemical companies which had invested $21 billion on the island. Today, there are 95 firms which have poured in over $31 billion into fixed assets.
Jurong Island spans 3,000ha and companies have fully taken up land on its east side. There are ’small pockets’ of land left in the western part of the island and ‘many investors are very keen to come here’, JTC chairman Cedric Foo told the press on the sidelines of the event. Investments will grow ‘probably at a good pace. . . My estimate is, probably no worse than the historical average’. Continue reading
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