The sub-sector committed fixed asset investments (FAI) of S$1.6 billion in 2004. When fully implemented, the EDB said these projects will generate a value-added of S$1.1 billion per year, with additional employment of 900.
The bulk of the country’s oil, petrochemical and chemical manufacturing activities takes place on Jurong Island located just south of the main island. The island has been created from the merger of several small islands by state-owned JTC Corp over the past decade. JTC is also Jurong Island’s landlord.
Singapore’s total oil trade rose 10.49% to 2,824,523 barrels/day in 2004. Imports jumped 11.35% to 1,803,645 b/d while exports rose 9% to 1,020,878.
In value terms, as world oil prices surged to record high levels in 2004, Singapore’s port handled S$69.174 billion worth of crude and oil products, more than doubled the S$33.92 billion in 2003. Oil comprised more than 11.9% of Singapore’s merchandise trade in 2004, up sharply from 7.2% from 2003.
Singapore’s electricity generation capacity currently stands at 9,150 MW, well above its current peak demand of 5,100 MW. The country’s existing power companies are Senoko Power (3,300 MW), PowerSeraya (3,100 MW), Tuas Power (1,935 MW) and SembGas Cogen (815 MW). In 2005, Keppel Corporation subsidiary Keppel Energy began constructing a 500 MW power plant on Jurong Island. Another company, Island Power, has announced plans to build a 715 MW plant.
