Home / Knowledge / News / Textiles / Malaysia to get Taiwan's scrapped naphtha cracking project
Malaysia to get Taiwan's scrapped naphtha cracking project
15
May '12
A controversial investment project for naphtha cracking that was scrapped in Taiwan may now be set up in Malaysia.

Malaysian Prime Minister Najib Razak announced that a Taiwanese petrochemical company will invest US$ 120 billion in his country for naphtha cracking, oil refining and petrochemical production.

Following the announcement of the Malaysian Prime Minister, Taiwanese Minister of Economic Affairs Shih Yen-shiang said the firm referred to by Mr. Razak was Kuokuang Petrochemical Technology Company.

Kuokuang, in which Taiwan's state-owned oil refiner CPC Corp. has a large stake, had earlier planned to invest in setting up a naphtha cracking and petrochemical complex in central Taiwan's Changhua County.

However, the project was scrapped after concerns were raised by environment monitoring teams and local residents that the setting up of the project would result in high levels of pollution.

Since then, Kuokuang was exploring suitable overseas location for the project and it has short-listed Malaysia as a possible option, the Taiwanese Minister said.

Mr. Shih said the decision of the Taiwanese firm to set up its new investment project in a foreign country will have an adverse impact on the country's petrochemical production value chain.

The industry representatives have decided to increase their focus on manufacturing high-quality petrochemicals domestically and other petrochemical intermediaries in foreign countries, he added.

He assured that the Ministry will put in efforts to help technological upgradation in the Taiwanese petrochemical industry in order to reduce the adverse impact of investment in overseas projects.

Fibre2fashion News Desk - India


Must ReadView All

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Apparel/Garments | On 18th Nov 2017

Sri Lanka’s apparel exports rise after EU GSP+ reinstatement

Sri Lanka’s apparel exports from January to September 2017 has...

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Apparel/Garments | On 18th Nov 2017

Bangladesh plans 2 leather estates in Rajshahi, Chittagong

Bangladesh Prime Minister Sheikh Hasina has said two more leather...

ASEAN, Hong Kong sign free trade agreement

Textiles | On 18th Nov 2017

ASEAN, Hong Kong sign free trade agreement

The Association of Southeast Asian Nations (ASEAN) and Hong Kong...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

November 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search