ExxonMobil, the U.S. based multinational oil and gas corporation, has apparently revealed in its recent announcement that it has commenced operations of its two new multi-billion dollar petrochemicals manufacturing facilities. As per reliable sources, the latest facilities would expand ExxonMobil’s flexible stream cracking capabilities in Singapore and fall under the wide-scale expansion project at the firm’s integrated manufacturing complex in the nation.

Speaking on the firm’s latest move, Gan Seow Kee, Chairman and Managing Director, ExxonMobil Asia Pacific Pvt Ltd., was quoted stating that with the launch of new facilities the firm is now well-positioned to serve consumers in Asia’s key growth markets. He further added that the expansion would assist the company in establishing Singapore as a crucial manufacturing hub of fuels and petrochemical products, specifically the ones that aid in reducing emissions and improving fuel economy.

Sources familiar with the development claim that the first facility would manufacture up to 90,000 tons of Escorez hydrogenated hydrocarbon resins per annum, while the second plant would manufacture high-grade halobutyl rubber which is predominantly utilized in producing tires. This facility has been said to possess a total annual production capacity of around 140,000 tons.

Commending the efforts of ExxonMobil, Managing Director of Singapore Economic Development Board (EDB), Chng Kai Fong was quoted stating that the investments of the oil major in Singapore highlights the competitive location of the nation for producing high value chemicals. He further added that such investments are in line with EDB’s strategy to construct a robust Singaporean core as professionals would take on high value-added jobs and build new capabilities.

The two plants will seemingly add 140 jobs to the company’s already existing employee base over 2,500 at its manufacturing complex in Singapore. ExxonMobil has more than 4,000 employees in Singapore.

The operations of Exxon’s two plants follows the completion of the company’s acquisition of Jurong Island plant from Jurong Aromatics Corporation in August 2017. Incidentally, this aromatics plant is one of the largest in the world.