SINGAPORE: Shell on last Wednesday (Nov 1) opened a 10-hectare integrated lubricants and grease production facility in Tuas that will help boost Singapore’s position as a production hub for the industry.
The facility, which is almost as large as 25 football pitches, is Shell’s second-largest lubricants plant in Asia-Pacific and the third-largest in the world.
The plant can produce up to 430 million litres of lubricants and grease every year – enough to change the engine oil of more than 12,000 cars, every hour, every day.
It will also be a production hub for products that will be shipped to more than 40 countries, mainly in the Asia-Pacific region, said Mr Lim Kok Kiang, assistant managing director of the Singapore Economic Development Board in a press release.
“It is also a recognition of the growth opportunities that can be seized from Singapore,” he said, adding that the country is well-positioned to benefit from strong demand growth for lubricants.
The global marine lubricants market is estimated to expand at an annual growth rate of 4.17 per cent and reach US$3.33 billion (S$4.5 billion) by 2024, Mr Iswaran said.
Asia Pacific accounted for more than 51 per cent of this market in 2015, and will likely drive future demand.
“As a leading container port, many ships calling at Singapore can be served by our energy and chemicals companies,” Mr Iswaran added.