• Short Summary

    THE SINGAPORE MINISTER FOR FINANCE DR. GOH KHENG SWEE DECLARED OPEN AN OIL REFINERY IN?

  • Description

    THE SINGAPORE MINISTER FOR FINANCE DR. GOH KHENG SWEE DECLARED OPEN AN OIL REFINERY IN SINGAPORE BUILT BY JAPANESE MARUZEN TOYO OIL COMPANY ON MARCH 21.

    THE REFINERY MARKS THE FIRST MAJOR JAPANESE INVESTMENT IN SINGAPORE SINCE THE WAR AND IS ALSO THE FIRST JAPANESE OVERSEAS OIL REFINERY.

    AMONG THOSE WHO ATTENDED THE OPENING CEREMONY AT THE 33-ACRE SITE WERE MR. K. WADA, PRESIDENT OF MARUZEN OIL COMPANY OF JAPAN, ND ALSO MARUZEN TOYO OIL REFINERY IN SINGAPORE; AND A MEMBER OF THE JAPANESE HOUSE OF REPRESENTATIVES MR. S. CHIBA, AMONG OTHERS.

    DIRECTOR MR. M. KUROKAWA OF THE SINGAPORE COMPANY WELCOMED THE GUESTS. THE SPEECH OF PRESIDENT MR. WADA, WHO FOUND DIFFICULTY IN WALKING UP TO THE DAIS, WAS READ BY MR. S. SUGIMOTO, VICE PRESIDENT OF MARUZEN OIL CO. THE SPEECH POINTED OUT JAPANESE INTEREST IN PROMOTING TRADE WITH SOUTH-EAST ASIA.

    MEMBER OF HOUSE OF REPRESENTATIVES MR. S. CHIBA READ A MESSAGE FROM THE JAPANESE MINISTER OF INTERNATIONAL TRADE AND ALSO CONVEYED THE JAPANESE PEOPLES REGRETS TO THE PEOPLE OF SINGAPORE FOR EVENTS IN WORLD WAR TWO, MESSAGES FROM PREMIER IKEDA AND OTHERS WERE ALSO READ.

    DOCTOR GOH KHENG SWEE HOPED THAT M.T.O. REFINERY IN SINGAPORE WOULD BRING FORTH A TRAIN OF NEW INDUSTRIAL INVESTMENT FROM JAPAN AND POINTED OUT THE ADVANTAGES OF SINGAPORE AS AN ATTRACTIVE INDUSTRIAL LOCATION IN SOUTH-EAST ASIA. LATER HE CUT THE RIBBON TO DECLARE THE REFINERY OPEN, THIS WAS FOLLOWED BY A TOAST IN CHAMPAGNE FOR THE SUCCESS OF THE COMPANY.

    THE 25 MILLION MALAYAN DOLLAR MARUZEN/TOYO OIL COMPANY IS A JOINT VENTURE BETWEEN MARUZEN OIL CO. AND TOYO MENKA K.K. OF JAPAN. THE CONSTRUCTION OF THE REFINERY WAS STARTED 18 MONTHS AGO. IT CAN PROCESS 15,000 BARRELS A DAY AND PRODUCTION WILL START IN APRIL. THERE ARE 30 STORAGE TANKS AT THE REFINERY AND A BERTH THAT CAN HANDLE SHIPS UP TO 35,000 TONS.

    THE COMPANY HAS ALREADY SECURED ORDERS WORTH BETWEEN 12 AND 24 MILLION MALAYAN DOLLARS FOR SUPPLYING OIL TO LOCAL POWER AND GAS STATIONS.

    THE REFINERY EMPLOYS ABOUT 250 LOCAL MEN, SOME OF WHOM WERE TRAINED IN JAPAN. SINGAPORE GOVERNMENT HAS GRANTED TAX CONCESSIONS FOR THE VENTURE UNDER LEGISLATION TO PROMOTE PIONEER INDUSTRIES. THIS IS THE SECOND REFINERY SET UP IN SINGAPORE RECENTLY. THE FIRST BY SHELL GROUP.

  • Tags

  • Data

    Film ID:
    VLVA5RGTS47ZRLLPJIR1FU2F1GOFE
    Media URN:
    VLVA5RGTS47ZRLLPJIR1FU2F1GOFE
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    21/03/1962
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:51:00
    Time in/Out:
    /
    Canister:
    N/A

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