COLOMBES, France--(BUSINESS WIRE)--Regulatory News:
Arkema (Paris:AKE) confirms it is on track to begin production of Amino 11 and its flagship Rilsan® polyamide 11 high performance polymer at the new plant on Jurong Island, Singapore in the first half of next year. This plant, for which production will be 100%-derived from renewable castor beans, represents a 50% increase in Arkema’s global polyamide 11 capacity.
With this ambitious project announced in 2017, Arkema is delivering on its strong commitment to Specialty Materials and the bio-based polyamide 11 chain. When complete, this will represent the biggest integrated bio-factory in the world dedicated to high performance polymers. It represents a 50% increase in global polyamide 11 capacity for Arkema. The total investment in the region, which also includes downstream polymer capacities in China, is approximately €450 million. To finance this new plant in Singapore, Arkema successfully placed its first ever green bond in October 2020, for a total amount of €300 million.
After a first phase of in-depth studies and administrative procedures, our technical teams have started work on the infrastructure and construction of this large-scale industrial complex on the Jurong site (Singapore). After overcoming the difficulties linked to the Covid-19, this project is fully on track and the Group confirms its ambition to start up production in the first half of 2022.
This investment supports strong growth in demand for advanced bio-circular materials. Rilsan® polyamide 11 is recognized worldwide for its superior properties and performance in very demanding applications, significantly contributing to the development of sustainable solutions in fast-growing sectors, such as new energy vehicles, 3D printing, as well as consumer goods, electronics, sports and lifestyle markets.
“We are excited to maintain the momentum and speed of construction,” said Erwoan Pezron, Senior Vice-President, High Performance Polymers. “After facing early challenges due to the global pandemic, we are operating at full strength and are now entering the peak construction phase with an estimated 2,000 workers on site during the summer months. The enthusiasm of our team in Singapore is stronger than ever, supported by the vigorous demand from our customers for sustainable and cutting edge solutions.”
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide. www.arkema.com