Exxon Still Plans Singapore Plant

Exxon Corp. is proceeding with plans for a $2 billion petrochemical plant in Singapore despite the Asian economic crisis and its impending acquisition of Mobil Corp.

Exxon Chemical Singapore, a local division of Irving, Texas-based Exxon, was scheduled to begin operations at its largest project in the Asia-Pacific region in the fourth quarter of 2000, a company statement said Friday. The complex features a facility that will produce mainly ethylene and propylene. Three additional facilities will produce other petrochemical derivatives.

Ethylene and propylene are widely used to make plastic packages, containers and films, detergents, cosmetics and paints.

The entire complex will occupy about 247 acres on Singapore's Jurong Island.

The project will add 500 permanent jobs in Singapore, and construction of the large project will employ tens of thousands over the next two years, said the company statement.