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SINGAPORE: Sembcorp Industries said it has secured its first anchor multi-utilities customer in the Jurong Island petrochemical cluster.
It has signed a 20-year long-term agreement with Jurong Aromatics Corporation (JAC) for the supply of steam and other wastewater treatment services to JAC's upcoming aromatics complex.
To provide these services, Sembcorp says it will build a multi-utilities facility and a cogeneration power plant at a total investment cost of about $800 million dollars.
The facility is expected to be completed by the third quarter of 2013.
It will be funded through a mix of bank borrowings and internal sources.
The development of the plant is subject to the approval of relevant authorities.
The investment and contract are not expected to have a material impact on the earnings per share of Sembcorp Industries for the current financial year.
-CNA/wk
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