Taiwan's state-owned CPC to outlay US$26 bln on fuels, chemicals by 2019

Taiwan's government-owned oil refiner, CPC Corp. has announced to outlay US$ 1.4 bln to upgrade existing facilities as well as construct new petrochemical plants over the next 10 years including a 600,000 mtpa ethylene unit in southern Taiwan. This plan is a part of company's 10-year US$26 bln investment plan to enhance productivity and build new plants for its fuel and chemical markets. CPC's partly owned entity, Kuokuang Petrochemical Technology plans to establish a 300,000 bpd refinery and a 1.2 mln tpa ethylene facility. The state-owned refiner's long term investment plan aims to augment efficiencies of its plants so as to compete with nation's other refiner, Formosa Petrochemical Corp.
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