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

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

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

Igor Chapurin
Chapurin

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

Yash P. Kotak
Bombay Hemp Company

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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