Toyo Engineering Awarded Two Modification Projects for Aster Group's Ethylene Plant in Singapore

Toyo Engineering Corporation (President and CEO Eiji Hosoi, hereinafter TOYO) has been awarded two modification projects for an existing ethylene plant located on Bukom Island, Singapore, promoted by the Aster Group, from Singapore-based energy company Aster Chemicals and Energy Pte. Ltd. (hereinafter Aster).

Aster is an integrated enterprise dealing with energy, chemical, and infrastructure sectors in Southeast Asia, and is working to strengthen its stable energy supply system through investments in facility renewal and innovation.

This existing ethylene plant was previously constructed by TOYO, and the award reflects the high evaluation of TOYO's profound knowledge based on its past construction experience.

Modification Project 1: "Ethylene Chiller Unit Modification Project"

First, TOYO received an order from Aster for the modification of the ethylene chiller unit as part of Aster's plan to double its export capacity. Following the Front End Engineering Design (FEED) contract awarded last year for the same project, TOYO will now provide detailed Engineering, Procurement services, and Construction management (EPsCm*) for the project. This ethylene chiller unit modification project will double the ethylene export capacity of the existing ethylene plant, and is part of Aster's initiative to reinforce Singapore's role as an energy and petrochemical hub in Southeast Asia.

Modification Project 2: "Gas Turbine Unit Integration Project"

Concurrently, TOYO was awarded the integration project of the gas turbine unit for the same ethylene plant from Aster Power Pte. Ltd., an affiliate of Aster. TOYO will be responsible for the Front End Engineering Design (FEED). This gas turbine unit integration project intends to improve the energy efficiency of the entire plant, including a reduction in fuel consumption, by reusing the high-temperature exhaust gas from the gas turbine as combustion air for the existing plant's furnaces. This is expected to make a significant contribution toward realizing a decarbonized society. TOYO has a proven track record of introducing this gas turbine integration technology both domestically and internationally, and this experience and knowledge were highly evaluated in securing the order.

TOYO will leverage its extensive project experience in the petrochemical plant sector and its global management structure to contribute to the development of the rapidly growing Southeast Asian market.

*Engineering, Procurement service, Construction management A service that provides practical support during the procurement and construction phases, including engineering, assistance in selecting equipment manufacturers and construction companies, quality and delivery management of materials and equipment, as well as quality and schedule management of construction work.

Project Overviews

1. "Ethylene Chiller Unit Modification Project" Client: Aster Chemicals and Energy Pte. Ltd. Contractor: Toyo Engineering Corporation Site: Bukom Island, Singapore Subject Facilities: Ethylene Chiller Unit (C2 Chiller Unit) Scope of Work: Detailed Engineering, Procurement services, and Construction management (EPsCm)

2. "Gas Turbine Unit Integration Project" Client: Aster Power Pte. Ltd. Contractor: Toyo Engineering Corporation Site: Bukom Island, Singapore Subject Facilities: Gas Turbine Unit Scope of Work: Front End Engineering Design (FEED)

About TOYO Founded in 1961, Toyo Engineering (TOYO) is a comprehensive engineering company that has built a global network and provided engineering services and plant construction to clients in over 60 countries worldwide. Refining its proprietary technologies centered on its founding business of chemical fertilizers like ammonia and urea, TOYO has expanded its business domains into a wide range of areas including petrochemicals, oil and gas processing, resource development, and power generation. Furthermore, under the mission of "Engineering for Sustainable Growth of the Global Community," TOYO aims to realize a sustainable society by introducing eco-friendly solutions and the latest technologies to contribute to decarbonization.

About Aster Aster is a major provider of energy, chemical, and infrastructure solutions in Southeast Asia, offering products and services to various manufacturing industries domestically and internationally. Aster was established as a joint venture with Glencore under the leadership of Chandra Asri. Since the establishment of the Chandra Asri Group in 1992, the group has grown steadily, Indonesia