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Wednesday 25 August 2010

Sembcorp Expands In New Growth Area Of Jurong Island

- New anchor customer JAC secured

- Sembcorp to develop new multi-utilities facility and cogeneration plant

SINGAPORE, August 25, 2010 – Sembcorp is pleased to announce that it has secured its first anchor multi-utilities customer in the new growth area in the west of Singapore’s Jurong Island petrochemical cluster.

It signed a 20-year long-term utilities services agreement with Jurong Aromatics Corporation (JAC) today for the supply of steam and other water and wastewater treatment services to JAC’s upcoming aromatics complex.

To provide these services to JAC, Sembcorp will build a multi-utilities facility adjacent to the JAC aromatics complex and a new gas-fired combined-cycle gas turbine cogeneration plant close to the JAC aromatics complex, to provide integrated supply of steam, water and wastewater treatment services.

With a total investment cost of approximately S$800 million, the new multi-utilities facility and cogeneration plant are expected to be completed by the third quarter of 2013, and are expected to be funded through a mix of bank borrowings and internal sources. Occupying a land area of around 5.3 hectares, the new multi-utilities facility will be similar to Sembcorp’s existing multi-utilities centre in Jurong Island’s Sakra district and will supply around 350 tonnes of steam per hour, as well as other water and wastewater treatment services.

The new combined-cycle gas turbine cogeneration plant will have a capacity of 400 megawatts of power and 200 tonnes per hour of process steam in its initial phase. The development of the cogeneration plant is subject to the approval of relevant authorities.

Sembcorp’s expansion in the upcoming growth area in the west of Jurong Island will complement its current operations in the Sakra and Seraya districts of the island. Earlier in June, Sembcorp had announced that it had secured a long-term wastewater treatment contract from Lanxess for its upcoming butyl rubber production facility in Tembusu.

Commented Sembcorp Group President & CEO Mr Tang Kin Fei, “Our new contract from JAC is a strong vote of confidence in Sembcorp as the global leader in the provision of energy, water and onsite logistics and services to industrial sites. We thank them for their support and confidence in us.
With Sembcorp’s expertise and unmatched track record on Jurong Island, we look forward to supporting JAC and other new companies in the area as a vital partner for their total energy, water and wastewater treatment requirements.”

The investment and contract are not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the current financial year.

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