Home / Knowledge / News / Textiles / BoI grants nod to naphtha cracker project
BoI grants nod to naphtha cracker project
31
Dec '10
According to Lucita Reyes, the Executive Director of Board of Investments (BoI), financial incentives have been extended by the Board to the $600 million worth naphtha cracker project of JG Summit Olefins Corp, a subsidiary of JG Summit Holdings located in the Batangas province of Philippines.

JG Summit Olefins will manufacture polymer-grade ethylene and propylene, pyrolysis gas as well as by-products like acid gas, fuel oil and fuel gas with a yearly production capacity of 925,537 metric tons.

Trade Undersecretary and Managing Head of BoI – Cristino Panlilio revealed that this naphtha cracker project is a large venture intended at replacing the import of various raw materials with that of the local production. It can now compete with China in this field.

The company will lay the foundation stone of the project in January, 2011 in Barangay Simlong, Batangas city.

The project has been postponed largely because of the recession that started in 2008. It is for the third time that it has tried to start the project after attempting twice in 2005 and 2008.

The naphtha cracker is likely to manufacture 320,000 metric tons of ethylene, 270,000 tons of pyrolysis gas and other byproducts and 190,000 tons of propylene, every year.

The annual production capacity of polypropylene and polyethylene plants of JG Summit Petrochemical is 180,000 tons and 200,000 tons, correspondingly.


Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

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

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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