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Stockwatch- Rotary Engineering (S'pore) Smart Investor December 2006 magazine article: Rosy Future for Rotary

Key highlights:

1. About 2 mths ago, Prime Minister Lee Hsien Loong said that Singapore would reinforce its position as one of the world's top 10 petrochemical hubs with Shell's largest investment here to date- a multi-billion-dollar petrochemicals complex spanning Pulau Bukom and Jurong Island. Shell has announced the expansion of its current facilities to include a new world-scale ethylene cracker, modifications and additions to the Pulau Bukom refinery and a mono-ethylene glycol plant.

2. Other multinational oil companies have also announced several major projects. ExxonMobil is planning for its second ethylene cracker, which will be comparable or slightly larger in capacity than its existing 900,000-tonne cracker on Jurong Island.

3. Rotary Engineering Limited through its wholly owned subsidiary Rotary IMC Pte Ltd, has secured 2 contracts from Shell Eastern Petroleum (Pte) Ltd. One is worth $15.5 million and the other $10.3 million for a part of works at its Bukom Shell Houdini Project.

4. Rotary is poised to capitalise on the abundance of opportunities in the Middle East.

posted by gsg @ 11:55 AM