LEHIGH VALLEY, Pa., March 31, 2014 /PRNewswire/ -- Air Products (NYSE: APD) today announced it had been awarded a contract to supply liquid nitrogen to Singapore's Jurong Rock Caverns (JRC) project, an innovative underground storage facility for petrochemical products and the first of its kind in the country and across Southeast Asia.
JRC is developed by the JTC Corporation (JTC), a government agency responsible for industrial infrastructure development in Singapore. Located on Jurong Island, the JRC will complement and enhance the existing infrastructure that JTC has developed there to support the growth of the chemicals and energy clusters. This will free up land for productive activities on the surface. Air Products' liquid nitrogen will be used as a blanketing gas for the oil storage caverns for safety purposes.
"We are honored to have been selected by JTC to take part in and supply this groundbreaking solution to oil storage needs," said Leong Wah Fong, managing director of Air Products Southeast Asia. "Singapore's energy and chemical industry is a strategic market for Air Products and we have built a solid foundation to serve its needs through diverse supply modes, from cylinders to tankers, onsite gas generators and pipeline. We will continue to expand our capabilities to support the industry's and customers' long-term development."
Air Products began serving petrochemical customers on Jurong Island in 1997 through an air separation plant located at Sakra. To meet the increasing gas demand in Singapore's major chemical hub, the company has recently announced a pipeline extension from the area to the newly developed areas in Tembusu to expand coverage.
In addition to the air separation plant on Jurong Island, the company also has a fleet of road tankers delivering liquid products, a helium and specialty gas plant in Senoko, an epoxy additives and a polyamide plant in Gul Crescent, supplying a wide array of industries in the country and other Asian markets.
About Air Products Air Products (NYSE: APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. Recognized as one of the world's most innovative companies by both Thomson Reuters and Forbes magazine, more than 21,000 employees in over 50 countries supply effective solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2013, Air Products had sales of $10.2 billion. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company's Form 10K for its fiscal year ended September 30, 2013.
SOURCE Air Products