Chang Chun Petrochemical Group to budget NT$50 bln in massive overseas expansion

24-Nov-11

Chang Chun Petrochemical Group will budget NT$50 billion in massive overseas expansion, including setting up new plants in Singapore, Changshu, Jiangsu province and Panjin, Liaoning province, China, as per CENS. Plans are underway despite the global economic downturn. The Singapore plant will embark on commercial production by end of 2012 or Q1-2013. The group’s Singaporean subsidiary has secured a contract from Shell to supply 325,000 tpa of ethylene and propylene to facilitate production in China, stressing petrochemical production must not be geographically-confined, with global deployment being necessary but backed by sufficient raw materials; while setting up plants during economic downturns is more cost efficient.