ExxonMobil bets on Asia

In preparation for a rebound it foresees will come in the near future, ExxonMobil Corp. has been hiring aggressively in Asia-Pacific. The company is bullish about petrochemical demand in Asia, expecting 60% of global growth through 2015 to be in the region. It is readying its manpower pool in Singapore for the 2011 commissioning of its US$5 billion second petrochemical complex in the country. ExxonMobil officers said they aim to employ a total of 2,800 engineers and technicians by 2010 in the complex, named the Singapore Parallel Train (SPT). The SPT will be equipped with a 1 million ton per year (tpy) ethylene cracker. SPT is one of two new petrochemical complexes being built on Jurong Island, with the other being Shell’s new US$3 billion 800,000 tpy cracker, scheduled for startup early next year. (July 4, 2009)