Home / Knowledge / News / Textiles / Taiwan to inject NT$ 100bn in petrochem industry in 2013
Taiwan to inject NT$ 100bn in petrochem industry in 2013
Apr '13
In line with last year’s investment of NT$ 99 billion, this year too, Taiwan proposes to invest around NT$ 100 billion or US$ 3.35 billion in domestic petrochemical industry, Council for Economic Planning and Development (CEPD) has said.
Of the total sum, NT$ 15 billion would be invested in high-value petrochemical sectors this year, around 13 percent more than NT$ 13.3 billion invested last year, according to Focus Taiwan. 
Increased allocation for investment in high-value sectors is mainly attributable to a program that the Cabinet approved last year to fasten development of high value-added petrochemical industries, the CEPD said.
The program focuses on supporting downstream petrochemical firms to get more competitive and innovative, and gain higher integration in the industry’s supply chain by creating a liking and demand for higher value items, the Council said.
To this end, the Government each year invests around NT$ 600 million to persuade petrochemical businesses to spend more on research and development.
Likewise, the Ministry of Economic Affairs has constituted a promotion office, which works in association with research institutions to back development of high value-added petrochemical businesses and enable producers to escalate the value chain.
The program has already started delivering results, and the state-run CPC Corp., Taiwan has invested NT$ 285 million to set up an eco-friendly energy research institute and test centre for bulk production and testing of new materials on a pilot basis. The company foresees its investment in the sector reaching NT$ 2.3 billion by 2016, it added.
Meanwhile, private firms are also eagerly surveying the prospects of establishing R&D centres, the Council said.
The Government intends to continue employing more resources to upgrade the R&D abilities of the industry, skills of the technicians and for enabling cooperation amongst operators, it added.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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