Singapore plans to further improve its position as one of the world's top 10 petrochemical hubs. Singapore plans to meet rising demand for petrochemicals by creating competitive feedstock and producing more value-added advanced materials and specialty chemicals, as per plats. The country plans to enhance infrastructure development, create competitive feedstock for petrochemicals and move up the value chain with advanced materials as well as specialty chemicals. With the completion of ExxonMobil Chemical and Shell Chemicals new steam crackers, Singapore's total ethylene output will rise from 2 mln tpa to 4 mln tpa by 2012. The government will continue to develop Jurong Island, which houses many petroleum and petrochemical companies.
The energy and chemicals industry was one of the largest contributors to Singapore's manufacturing output, Iswaran pointed out. In 2009, the petrochemicals and specialty chemicals sectors contributed close to S$58 bln (US$42.9 bln) to the manufacturing output, translating to S$1.9 bln in terms of value addition.