Abundant supplies amid weak demand does not deter start up of ExxonMobil’s Singapore plant

Exxon Mobil Corp will not delay the start up of its new petrochemical plant in Singapore despite the glut in ethylene supplies. "We are into long-term investments. The petrochemical industry goes through many cycles. We cannot predict the cycles, ExxonMobil's senior vice president Andrew Swiger told a news conference at the Asia Oil and Gas Conference." The multibillion-dollar 1 mln tpa ethylene cracker on Singapore's Jurong Island will start our plant as scheduled. Mechanical completion and start-up activities of the new facilities will be in phases beginning late 2010 through 2011.
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