Mr Lim Hng Kiang at the Opening Ceremony of Huntsman Corporation’s Polyether-Amines Plant

Speech BY Mr. lim hng kiang, minister for trade and industry, AT the opening ceremony of huntsman CORPORATION’S polyether-amines plant, jurong island, on WEDNESDAY, 31 October 2007 AT 10.05 AM

Your Excellency, Patricia Herbold, Ambassador of the US to Singapore

Mr. Jon Huntsman Senior, Chairman, Huntsman Corporation

Mr. Peter Huntsman, President and CEO, Huntsman Corporation

Distinguished Guests

Ladies and Gentlemen

Introduction

It gives me great pleasure to join all of you for the grand opening ceremony of Huntsman’s first green-field manufacturing facility in Singapore. I would like to take the opportunity, on this joyous occasion, to congratulate the Huntsman team on the completion of the plant, without a single lost time incident, in the speedy 800,000 man-hour construction process.

This is a truly significant step forward for the Huntsman-Singapore partnership since Singapore’s first engagement with Huntsman more than 10 years ago.

The establishment of this polyether-amines plant will see the production of Huntsman’s global leading performance product in Singapore. We thank Huntsman for your strong vote of confidence in Singapore and we are confident that Singapore can continue to play a key role in Huntsman’s presence in the Asia Pacific region.

Growth of Singapore’s Chemicals Cluster - Deriving value Downstream

In 2006, output from the chemicals cluster grew by 12% to exceed S$74 billion. With the announcement of Exxon Mobil’s integrated chemical complex and Shell’s world-scale cracker on Pulau Bukom, ethylene capacity, currently at 2 million tons per annum (tpa), will be doubled by 2012. Given the healthy pipeline of investments and positive sentiments, the Singapore chemical industry is ready to embark on its next phase of growth.

The gain in mass and aggregation of upstream molecules sets the stage for the development of high value downstream chemical industry.

Downstream specialty chemicals bring new and creative solutions to the industries it serves and to our daily lives. Specialty chemical companies create value for customers and value-add to our industry. We believe this sector will play a pivotal role in transforming our chemical industry into a high-value, technology intensive and sustainable contributor to our economy.

Platform to Asia

Huntsman’s operation here is in line with our vision to develop Singapore as a Total Solutions Hub for our specialty chemical companies, where services, manufacturing and innovation integrate.

The constant shift in the end-market customer demands dictates that specialty chemical companies deliver tailored solutions accurately and quickly. Companies are carving out strategies for success amidst the challenging global environment, particularly to address the high-growth Asia-Pacific market.

Singapore’s Role in Encouraging the Development of Renewables

I read with particular interest that, living up to your mission of pursuing “Quality of Life”, Huntsman had taken steps to address the increasingly pressing environmental challenges by establishing the strategic directive of sustainable chemistry. This refers to the use of renewable materials as feedstock, formulating products with applications that benefit the environment, reducing carbon footprint, conserving water, and minimizing waste.

Here in Singapore, we recognize that we can play a role in the emerging green chemistry scene. We are actively encouraging the leveraging of abundant resources in the region for the sustainable production of biofuels. Alternate chemistries which utilize renewables as opposed to conventional petroleum-based products are being keenly explored as well. Glycerin, for instance, is a renewable feedstock used by the chemical industry.

In addition, our research institute, the Institute of Chemical and Engineering Sciences has done research work in bio catalysis and is gaining traction in the area of catalyst screening and optimization, bioprocess engineering as well as protein engineering.

Singapore’s efforts in renewables will complement Huntsman’s “green chemistry” initiative and commitment to sustainable chemistry. We encourage chemical companies here, like Huntsman, to work with us on developing this important sector for the benefit of industry and the world community.

Conclusion

Huntsman’s mission and values articulate a desire for “Quality People, Quality Products, and Quality of Life". Your company is known for pioneering innovations, and offering tailored solutions that make a difference in improving lives and lifestyles. I am confident that in Singapore, you will find quality people who have an unrelenting focus on excellence. In Jurong Island, you will find a quality product that provides a pro-business environment, efficient infrastructure and unparalleled connectivity to serve your customers. And in Singapore, you will find a safe, comfortable and exciting home, and a high quality of life for your employees.

I would like to reiterate our continued support and commitment to Huntsman in Singapore. Thank you for your unwavering confidence in Singapore. EDB will continue to work together with Huntsman to explore new opportunities and push new frontiers.

Once again let me congratulate you on the opening of your Huntsman’s plant on Jurong Island. Thank you.