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Sembcorp Utilities sells 60% stake in gas manufacturing unit for $4m
It has also transferred a plant on Jurong Island.
The utilities arm of Sembcorp has divested 60% of its stake in Sembcorp Air Products to Eastman Chemical Singapore for approximately $4m.
According to a press release by Sembcorp, the group has also transferred its propylene purification plant on Jurong Island to Eastman for $5.7m.
“SembAP manufactures and deals in hydrogen, carbon monoxide and synthesis gas on Jurong Island, and holds a 50% stake in Sakra Island Carbon Dioxide,” the press release said.
Consequently, SembAP and Sakra Island Carbon Dioxide are no longer part of the Group, the press release said.
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