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Mumbai, Feb. 27 Lanxess AG, a specialty chemicals group, will set up a new synthetic rubber plant with an investment of €400 million in Jurong Island in Singapore.

Construction is due to begin in the first quarter of 2009 and will be completed by the end of 2010. When completed in 2011, the plant to be constructed at the chemical park will produce up to 1 lakh tonnes of butyl rubber annually, making the Lanxess plant the largest facility of its kind in Asia. Nearly 200 new jobs will be created initially.

The new chemical facility will produce butyl and halobutyl, synthetic rubbers that are used in the production of tyres.

“By setting up this new location in Singapore, Lanxess is responding to the significant growth in global demand for butyl rubber,” said Mr Axel C. Heitmann, Chairman, Lanxess Board of Management, at an international press conference in Singapore.

The JTC Corporation, an authorised agent of the Singapore Ministry for Trade and Industry, has offered the company attractive terms for the site on Jurong Island that covers approximately 20,000 sq metres. Lanxess expanded its production rubber facilities at Zwijndrecht in Belgium and at Sarnia in Canada.

More Stories on : Overseas Investments | Rubber

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