Thursday, October 23, 2014
Singapore port opens $50M extension to logistics terminal
Belgian logistics giant Katoen Natie opened a $50 million extension to its Port of Singapore Jurong Logistics Terminal on Jurong Island, increasing the terminal's capacity by 45 per cent.
The extra capacity will be taken up by new logistics contracts with three chemical producers - Borouge, Evonik and Lanxess - which should return combined revenues of about $250 million over the next five years.
The 162,000-square-meter port terminal features silos and packaging lines. Clients introducing new products in the region can also tap on Katoen Natie's pre-marketing logistics.
"Before the start-up of a new production plant on Jurong Island, Katoen Natie will work with the customers to import the product into Singapore to blend and pack for shipping from Singapore," explained Koen Cardon, chief executive of Katoen Natie Singapore.
"The petrochemical output of Jurong Island has already surpassed the total production output of countries such as Brazil, France, Canada, the Netherlands and Belgium," Cardon said at the ribbon-cutting ceremony.
For more of the Asia One story: business.asiaone.com
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