SINGAPORE - Energy giants Shell, Sinopec and Total have come together to build a shared lubricants park in Tuas - the first of its kind here.
Called Singapore Lube Park and spanning 5ha, it is a joint venture between Shell Eastern Petroleum, Sinopec Lubricant (Singapore) and Total Oil Asia Pacific.
The cost of the project was not disclosed, but the investment is estimated to be at least several hundred million dollars.
The partnership will cover operations of shared facilities, including an import and export jetty, common pipelines, infrastructure and exclusive storage facilities.
These will service their respective new lube oil blending plants and grease manufacturing plants, to be built on separate sites adjacent to the lube park.
Construction is set to start later this year and is expected to be completed by 2015.
"It's a great example of collaboration (between) companies and the Singapore Government to find innovative solutions to optimise the use of resources here," said Mr Dennis Cheong, Shell vice-president for lubricants supply chain.
"This equal collaboration will allow us to exchange technical expertise and standards across the three global organisations with diverse culture and strengths," added Total vice-president (lubricants) Tan Pai Kok.
The three companies have been working closely with the Economic Development Board (EDB) and JTC Corporation on this project.