27-Dec-16 The Board of Investments (BOI) has approved three petrochemical projects of Philippines conglomerate JG Summit Holdings Inc. (JGSHI) worth P15.8 bln.
Two pioneering projects of wholly owned subsidiary JG Summit Petrochemical Corp. (JGSPC) got the nod under the preferred activities of the existing Investment Priorities Plan (IPP) with the endorsement of the Department of Science and Technology (DOST). One GSPC project is a P4.2 bln plant for the production of butadiene and raffinate, and the other JGSPC project is a P3 billion project for the production of benzene, toluene, mixed xylene, C8+/C9+ cut and non-aromatics. Another wholly owned JGSHI subsidiary, JG Summit Olefins Corp. (JGSOC), was given the green light for the expansion of its naphtha cracker plant that will produce additional polymer grade ethylene, polymer grade propylene, mixed C4 and Pyrolysis (Py) gas with a project cost of P8.6 bln. JGSPC is part of the JG Summit Group, one of the largest conglomerates in the country.
“We very much welcome investment projects such as these. The company’s initiative and innovation in expanding their petrochemical plants is definitely a big boost to the manufacturing industry and its sub-sectors,” Trade Undersecretary and BOI managing head Ceferino Rodolfo said in a statement.
JGSPC is expected to produce 70,000 metric tpa butadiene and 89,000 Mtpa raffinate. petrochemical products will yield benzene at 126,000 Mtpa, toluene at 76,000 Mtpa, mixed xylene at 46,000 Mtpa, C8+/C9+ Cut at 18,000 M tpa and non-aromatics at 29,000 Mtpa. The JGSOC project is expected to enlist 21 personnel when the expansion operations start in July 2021. Capacity additions will be 160,002 M tpa of ethylene, 51,000 mtpa of propylene, 26,418 M tpa of Mixed C4 and 78,876 Mtpa of Py Gas. These projects will be located at the JG Summit Petrochemical complex in Batangas City.
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