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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

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