Afton Chemical Corp. will invest in Phase 3 of its Singapore Chemical Additive Manufacturing Facility, adding Gasoline Performance Additives (GPA) blending capabilities.
The Phase 3 investment is due to the integrated petrochemical hub in Singapore and trade connectivity to all parts of Asia and the Middle East. The new blending unit will come online in the fourth quarter of 2021 to complement the company’s blending and terminal operations in the Americas and Europe.
Afton decided to add a GPA blending capacity as the demand in the Asia Pacific is predicted to grow at a rate of 4 annually through 2024.
So far, Afton has invested roughly SGD400 million (USD292.6 million) in the facility.
