Novacap, a diversified chemicals group that produces and distributes essential chemicals used in everyday products, through its subsidiary Novacarb, is constructing a sodium bicarbonate plant in Singapore. It will produce high-quality sodium bicarbonate grades to serve the growing Asian demand in health care, personal care, food, and other industrial applications.
With a yearly production capacity of 70,000 metric tons, the plant located in Jurong Island will benefit from synergies with local partners in terms of infrastructure and services on the chemical platform.
“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 utilisation 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 Damian Chan, executive director, Energy and Chemicals, Singapore Economic Development Board.
“This major investment, supported by our shareholder Ardian, is part of Novacap’s organic growth strategy. This will enable us to offer a strong and reliable alternative for sodium bicarbonate supply in Asia. Singapore is a strategic location and logistic hub to seize the fast growing demand and to efficiently serve our customers and target markets,” explains Raymond Sinnah, Mineral Specialties division, vice-president, Novacap Group.