Home / Knowledge / News / Textiles / FPG waives Ningbo project of China
FPG waives Ningbo project of China
10
Apr '08
Formosa Plastic Group (FPG), subsidiary of Formosa Petrochemical Corporation (FPCC) stated on April 7 its decision to forgo the mega ethylene project in Ningbo of mainland China.

The company noted that with the opening up of direct cross-strait shipment, FPG will be able to transport its petrochemical products from Mailiao to China and therefore may not have to enforce its mega ethylene project in Ningbo of Zhejiang Province, China.

Sources confirmed Fibre2fashion, that the Chinese Government proposed Formosa Plastic Corporation, for a joint venture of only 50 percent. But the latter wanted a 100 percent holding in project in mainland China. Besides, there were a number of other issues as well.

The company was also facing challenging times dealing with leading indigenous Chinese petrochemical producers who were opposing the project.

This mega ethylene project in Beilun Petrochemical Zone of Ningbo City planned an annual crude oil refining capacity of 10 million metric tons and ethylene capacity of 1.2 million metric tons which is similar to the existing complex in Mailiao offshore industrial zone.

There are probabilities that now, the China National Petrochemical Corporation (CNPC) may take over this business project.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Lynda Kelly
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

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

Silke Brand-Kirsch
Schlegel und Partner

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

Sonam & Paras Modi
SVA

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

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search