Home / Knowledge / News / Textiles / Taiwan lifts ban on investing in Chinese naphtha cracking
Taiwan lifts ban on investing in Chinese naphtha cracking
03
Oct '13
The Government of Taiwan has lifted its ban on the country’s petrochemical sector which prevented it from investing in naphtha cracking facilities in China, according to a Focus Taiwan report.
 
However, one Taiwanese company would be allowed to invest in only one naphtha cracking project on the Chinese mainland, as per the revised regulations issued by the Ministry of Economic Affairs.
 
In addition, the company must have over 50 percent share in the project or hold control over its certain product lines, and must give priority for supplying to Taiwan’s domestic requirements, according to the new regulations.
 
The decision to allow Taiwanese companies to invest in China has been taken in view of the likely supply gap that would occur after Taiwan’s fifth naphtha cracker, run by CPC Corp, shuts down in 2015 when its license expires, Vice Economics Minister Duh Tyzz-Jiun said.
 
At present, a group of seven Taiwanese companies led by Ho Tung Petrochemical Corp is planning to invest in a petrochemical project in the Gulei Development Zone, located in China’s Fujian province.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Paolo Ocleppo
Sandvik Hyperion

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search