Sep. 5, 2006

Toyo Engineering Corporation, Chiba, Japan (TOYO) today announced that it was awarded the contract for the implementation phase of the new world-scale ethylene cracker recently announced by Shell Eastern Petroleum (Pte) Ltd (SEPL) to be located on Bukom Island, Singapore.

TOYO has teamed up a joint venture with ABB Lummus Global to realize this world scale 800,000 tons per annum state of the art cracker. The integration of the cracker with the Bukom refinery will provide SEPL a petrochemical complex that is fully competitive with leading crackers in Asia Pacific.

TOYO was selected for this strategic project by SEPL, due to its technical expertise and ability to deliver a complex petrochemicals project of this scale, on time, within the budget and in accordance with stringent HSSE and quality standards.

With this award, TOYO builds on its impressive track record of major ethylene projects and further enhances its position as a leading international contractor.

Under the contract TOYO will supply engineering, procurement service and construction management service. The detailed engineering and procurement work has commenced, and the construction work will start later in 2007. The cracker is scheduled to start up in 2010.

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