Home / Knowledge / News / Textiles / Govt not to lift ban on naphtha cracking investment in China
Govt not to lift ban on naphtha cracking investment in China
23
Aug '11
The Taiwanese Government has no plan to lift the ban on investments by local petrochemical companies in China's naphtha cracking sector.

Hwang Jung-chiou, Vice Minister of Economic Affairs, has stated that the Ministry of Economic Affairs (MOEA) does not intent to lift the ban on investments in naphtha cracking in China.

A consortium of four domestic petrochemical companies - Ho Tung Chemical Corp, China Petrochemical Development Corp, USI Corp and LCY Chemical Corp – have signed a joint venture for setting up naphtha cracking plants in Gulei Development Zone in Zhangzhou, located in Fujian Province on the coast of Southeastern China.

The plants are to be set up in collaboration with the Fujian provincial government and the Beijing-based Sinopec Group.

While domestic companies are allowed to invest in China's oil refining industry, Taiwan still bars them from investing in the mainland's naphtha cracking sector.

In the present situation, the local companies who have entered into joint venture agreement with the Chinese would have to wait until the ban is lifted, to formally launch their project.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search