Channel NewsAsia

SRC to invest over US$500m in new facilities at Jurong Island

Singapore Refining Company (SRC) will invest more than US$500 million (S$640m) in new facilities at its refinery on Jurong Island.

SINGAPORE: Singapore Refining Company (SRC) will invest more than US$500 million (S$640m) in new facilities at its refinery on Jurong Island.

SRC, a joint venture between US oil giant Chevron and Singapore Petroleum Company, said the new facilities will enable it to produce higher quality motor fuels as well as generate electricity for its own use.

It added that its decision to build the new clean fuel facility and cogeneration plant will improve energy efficiency.

It will also create about 2,000 jobs during the construction phase. 

Tweet Photos, Videos and Update on this Story to  #cna