15 March 18 The Business Times by WONG KAI YI
PETROCHEMICAL Corporation of Singapore (PCS) on Wednesday marked the official opening of its US$80 million naphtha import facilities on Jurong Island, a project first announced two years ago in 2016.
PCS's newest installation includes eight storage tanks totalling some 240,000 cubic metres of capacity, a 120,000 deadweight tonnage (DWT) liquid berth capable of handling large vessels transporting naphtha, and associated facilities.
In previous reporting by the Nikkei Asian Review, the berth will be able to dock tankers with a capacity of 50,000 to 70,000 tonnes, doubling the size that can be accommodated.
This will cut drop-offs by naphtha tankers to once every eight to 10 days, from once every four to five days.
PCS sources naphtha via pipeline from nearby refineries and also imports it from the Middle East, Nikkei added.
Akira Yonemura, PCS's managing director, said that the company's new facilities will give it more opportunities for feedstock optimisation and further strengthens the firm's competitiveness.
"Petrochemicals remain a competitive business, with growing demand being matched by new additions in China and the United States," Mr Yonemura said.
The naphtha import facilities will also help PCS continue to be a "reliable and competitive supplier" to all its customers, he added.
Lim Kok Kiang, assistant managing director of the Singapore Economic Development Board, congratulated the company on the completion of its facilities, adding that it will enhance the resilience of Singapore's energy and chemicals industry, and improve the sector's overall competitiveness.
The new tanks, in addition to reducing costs, will enable PCS to more easily blend naphtha suitable for its plants.
PCS is owned jointly by Japan-Singapore Petrochemicals Company - led by Sumitomo Chemical Company, Qatar Petroleum International and Shell Petrochemicals.
It operates two crackers on Jurong Island, supplying petrochemical building blocks such as ethylene and propylene to industrial customers.