By Eric Yep
SINGAPORE -- Royal Dutch Shell PLC (RDSA.LN) Thursday said it has raised the production capacity of a key petrochemical plant at its largest fully-owned oil refining and chemicals complex located in Singapore.
Shell has upgraded its ethylene cracker complex on Singapore's Bukom Island by more than 20%, which will boost the production of chemicals used to make plastics for everyday products.
"It maximises the full potential of Shell's petrochemicals footprint in Singapore and underlines our strategy to remain a leading player in the Asian petrochemicals market," Graham van't Hoff, Executive Vice-President at Shell Chemicals, said in a statement.
The project is a part of the Shell Eastern Petrochemicals Complex project, the largest investment to date for Shell Chemicals.
Singapore is Shell's petrochemicals operations hub in the Asia Pacific. In 2014, weak refining margins had forces the company to take an impairment charge of $2.8 billion in its downstream assets including its Bukom refinery in Singapore.
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