Home / Knowledge / News / Textiles / Taiwanese consortium to invest in China's naphtha cracking
Taiwanese consortium to invest in China's naphtha cracking
15
Oct '13
A Taiwanese consortium is planning to invest in naphtha cracking plants in the Gulei Development Zone in Zhangzhou, located in China’s Fujian province, the Petrochemical Industry Association of Taiwan (PIAT) said, according to Focus Taiwan.
 
The consortium, comprising eight companies—Ho Tung Petrochemical Corp, Hsin Tay Petroleum Co., LCY Chemical Corp., USI Corp., Grand Pacific Petrochemical Corp.,  Asia Polymer Corp.,  BOC Lienhwa Industrial Gases Co., and TSRC Corp.—would soon file an application with the Government for investing in a petrochemical complex in China, PIAT said.
 
The consortium is planning to set up a 50:50 joint venture with China’s Sinopec Group for building oil refining and naphtha cracking plants, the association said.
 
The consortium’s application would be the first since the Taiwanese Government lifted its ban on investing by Taiwanese companies in China’s petrochemical sector on October 1, 2013.
 
According to the revised regulations issued by the Ministry of Economic Affairs, one Taiwanese company would be allowed to invest in only one naphtha cracking project on the Chinese mainland.
 
In addition, the company must give priority for supplying to Taiwan’s domestic requirements.
 
The decision to allow Taiwanese companies to invest in China was 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.
 

Fibre2fashion News Desk - India


Must ReadView All

India's garment exports up 24.93% in September 2017

Textiles | On 16th Oct 2017

India's garment exports up 24.93% in September 2017

The exports of readymade garments from India in September 2017 was...

Low GST rate on zari will generate jobs for women: SRTEPC

Textiles | On 16th Oct 2017

Low GST rate on zari will generate jobs for women: SRTEPC

There will be a rise in the employment for women with the slash in...

Consumers may suffer if no assurance to EU workers in UK

Apparel/Garments | On 16th Oct 2017

Consumers may suffer if no assurance to EU workers in UK

Consumers may suffer if the British Government does not quickly offer ...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kevin Nelson
TissueGen

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, 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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


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