SINGAPORE—ExxonMobil Corp. will build facilities to manufacture halobutyl rubber and Escorez hydrogenated hydrocarbon resin at its expanded petrochemical complex in Singapore.
The project will add 140,000 tons per year of halobutyl rubber capacity and 90,000 tons per year of hydrogenated hydrocarbon resin capacity.
Financial details were not disclosed by the company.
The product lines are designed to serve the Asian market, which the firm is targeting for rapid growth, and meet the long-term demand for hot-melt adhesives.
The expansion is expected to begin in the second half of 2014, with 2017 as a targeted completion date. The firm said it has not determined how many more jobs will be added to its current total of about 2,000.
“Our expanded steam-cracking capability at Singapore provides a platform for growth through a wide range of petrochemical building blocks that can be further upgraded to specialty products,” ExxonMobil President Steve Pryor said in a statement.
The company continues to invest in expanding capacity at its strategic hub in Singapore, he said, “which is an ideal location to efficiently serve the fast growing Asia-Pacific market.”
An ExxonMobil spokeswoman said the firm increased its ethylene capacity at Singapore to 1.9 million tons per year with the recent addition of a second steam cracker.
The Singapore site is now ExxonMobil's largest integrated refining/chemicals manufacturing facility and accounts for about one-fourth of its global chemicals capacity.
The Singapore complex incorporates a state-of-the-art hydrogenation reactor system to produce premium tackifiers, the spokeswoman said.
ExxonMobil has targeted the Singapore facility as the primary base for serving the Asian market, the spokeswoman said.
The firm said chemical demand growth in Asia is driven by manufacturing of consumer products for both worldwide export and to serve the growing Asian middle class.
The Asia-Pacific region has accounted for more than two-thirds of the global demand growth since 2000, according to the company.
ExxonMobil expects the trend to continue. It projects the global chemical demand to grow by 50 percent because of improving prosperity in developing countries.