Choice between floating facilities, land reclamation to be made soon
Jurong Island is running out of land and Singapore will decide early next year on how to augment space at the oil and petrochemicals hub that houses biggies such as ExxonMobil and Shell. One option is to build large floating facilities there to store oil, while further land reclamation is another possibility.
As it is, 75 per cent of the island’s 3,000 hectares has been taken up or reserved by oil and petrochemical investors, a JTC Corporation spokeswoman told BT yesterday, adding that ‘JTC is in discussions with companies for the remaining 25 per cent’.
It was only last Friday that JTC celebrated the completion of Phases 3 and 4 of reclamation, which added 1,500ha and doubled the total land available at the highly integrated island complex. And so far, 95 investors have ploughed in more than S$31 billion there so far.
But already, some companies which had earlier postponed investments because of the global downturn will be resuming their projects soon, JTC chairman Cedric Foo said last week, without citing names. Continue reading
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