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JG Summit's new naphtha cracker to start by 2014
29 Jun '12
1 min read
JG Summit Petrochemical Corporation (JGSPC) is planning to begin commercial operations at its Barngay Simlong, Batangas City, Philippines-based naphtha cracking plant by 2014.
Lance Gokongwei, President of JG Summit Holdings, Inc. (JGSHI), of which JGSPC is a subsidiary, said the construction process is on track and the US$ 800 million naphtha cracking plant is likely to go operational by the first quarter of 2014.
The new plant will have an annual capacity to produce 320,000 tons of ethylene and will be able to meet most of the Philippines’ market demand, estimated to be around 350,000 tons a year.
Beginning 2015, the naphtha cracking plant will contribute about US$ 800 million to US$ 1 billion annually to JG Summit’s revenue, Mr. Gokongwei said.
He added that the new plant has provision to double its production capacity in future.
JGSPC is a joint venture between JGSHI and Marubeni Corporation of Japan.
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