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Source:
www.jtc.gov.sg |
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JTC begins construction of
Jurong Rock Cavern at Jurong Island |
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Tunnelling work has begun at the
construction site of Singapore¡¯s first underground rock cavern for
hydrocarbon storage ¨C the Jurong Rock Cavern (JRC). |
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JTC Corporation (JTC), which has been
appointed by the Singapore Government to undertake the project, held a
groundbreaking ceremony this morning to mark the commencement of this
milestone project. |
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The event was graced by Mr Lim Hng Kiang,
Minister for Trade and Industry. |
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Located at Banyan LogisPark on Jurong
Island, the multi-million dollar JRC project will be built at
subterranean depths beneath the seabed of Banyan Basin. Phase 1 of the
JRC, with a storage capacity of approximately 1.47 million cubic metres,
will be used to store liquid hydrocarbons such as crude oil, condensate,
naphtha and gasoil. |
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JTC has engaged consultants to provide
expert advice on the design and construction of the underground cavern.
JTC will also be inviting interested parties to submit proposals for
operation of the facility. |
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Storage of petrochemical products beneath
the seabed through the JRC will further enhance safety and security on
Jurong Island. |
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In addition, the underground storage facility will
free up land for higher value manufacturing operations. The size and storage
capacity of the JRC translates to a saving of approximately 60 hectares of
surface land space. |
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Speaking at the groundbreaking event, Minister Lim
said, "Turning Jurong Rock Cavern into reality took years of hard work,
imagination and perseverance by many parties both within and outside the
Government. But it is this spirit of constant innovation and breaking new ground
that will ensure that Singapore retains her ability to compete in this fast
changing and dynamic competitive environment." |
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Singapore¡¯s chemicals industry is riding on
a wave of unprecedented high growth. Singapore is the world¡¯s third
largest refining centre and Jurong Island, where the JRC will be
located, is the centrepiece for Singapore¡¯s chemicals cluster. |
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Jurong Island is the proud home to more than 80
companies in the petroleum refining, petrochemicals, specialty chemicals and
manufacturing companies with total gross investments exceeding S$26 billion. |
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In 2006 alone, more than $2.2 billion
in fixed asset investments were committed. |
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There is already strong interest from
the industry to utilise the cavern despite the project being in
its early stages. |
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It is estimated that Phase 1 may be
completely taken up upon its phased completion starting from year
2010. |
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Propelled by the encouraging demand,
JTC is already looking into Phase 2 of the JRC, which could
potentially add another 1.3 million cubic metres of hydrocarbon
storage space. JTC is exploring the possibility of involving the
private sector in the development of Phase 2 of the JRC. |
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The Chairman of JTC, Mr Soo Kok Leng,
added, "The development of the underground hydrocarbon storage
cavern at Jurong Island is a strategic project that will further
enhance the cluster concept and bring even more benefits to Jurong
Island companies." |
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About JTC Corporation |
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JTC Corporation (JTC) is the lead
agency in Singapore to develop key industrial facilities and
vibrant industrial space, in support of the nation's economic
development. |
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Currently, the Corporation has under
its management many developments including four wafer fab parks
and an advanced display park, two business parks, a chemicals hub
at Jurong Island, biomedical parks in Tuas as well as logistics
hubs for aerospace, chemical and general warehousing industries. |
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JTC also plays a catalytic role in
sourcing and introducing leading edge real estate solutions ¨C such
as specialised research facilities and underground caverns ¨C to
anchor important activities critical to the growth of the economy. |
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It is the master developer for
one-north at Buona Vista ¨C a 200-hectare development for research
& development and entrepreneurial activities. |
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With a focus on knowledge-intensive
activities in the biomedical, infocomm and media industries,
one-north will be a niche environment for innovation incorporating
research laboratories, offices, homes, parks and educational
institutions. JTC¡¯s home page address is
http://www.jtc.gov.sg. |
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Source:
www.jtc.gov.sg Press Release 8
Feb 2007 |
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FrontPage Edition: Thu 8 February 2007
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