Novacap, through its subsidiary Novacarb, a European leading producer of Soda Ash and Sodium Bicarbonate, accelerates its international development in Sodium Bicarbonate with the start of construction mid-April of a new stand-alone production unit in Singapore, operated by Novabay Pte Ltd. A groundbreaking ceremony has been organized on June 7th to celebrate this key milestone for the Company in the presence of the French Embassy, Singapore Economic Development Board (EDB), the French chamber of commerce in Singapore, JTC and its main partners and advisors.
The ceremony has started mid-afternoon in the plant located in Jurong Island with a traditional blessing dance called Lion’s dance followed by a party in the Fort Canning Hotel.
This state-of-the-art facility will produce high-quality Sodium Bicarbonate grades to serve the regional growing demand in Health Care, Dialysis, Personal Care, Food and other industrial applications.
The plant will have a yearly production capacity of 70,000 metric tons with a potential mid-term debottlenecking to 120,000 metric tons. The facility will be fully integrated and will benefit from synergies with its local partners on the chemical platform. The start of production is scheduled for the second quarter 2017.
"This major investment is in line with Novacap's sustainable organic growth strategy, supported by our shareholders. This will enable us to offer high-quality grades and a strong alternative of Sodium Bicarbonate supply in Asia. Singapore is a perfect location and logistic hub to capture the growth and to efficiently serve our customers and targeted markets." explains Raymond Sinnah, President of Novabay Pte Ltd and Vice-President of the Novacap Group’s Mineral Specialties Division.
“We are pleased that Novacap has decided on Singapore as its base in Asia to capture high value-added markets in the region. As the first large scale carbon utilization project in Jurong Island, Novacap’s investment is strongly aligned with the Jurong Island version 2.0 initiative, which aims to grow the sector in a competitive and sustainable manner,” said Mr Damian Chan, Executive Director, Energy and Chemicals, Singapore Economic Development Board.
For more information: www.novacap.eu.