CPC Corp. in negotiations to sell a naphtha cracking plant in Kaohsiung to Indonesia.

12-May-16

Taiwan's state owned CPC Corp continues to be in negotiations to sell a naphtha cracking plant located in Kaohsiung to Indonesia, as per focustaiwan.tw. The state-run firm is still studying the possibility of allowing the potential Indonesia buyers to relocate the entire facility to a remote island in the Southeast Asian country. CPC closed the oil refinery plant- the fifth naphtha cracking plant, in 2015, amid rising awareness of environmental protection in Taiwan, and has been seeking to sell it. Under the plan proposed by the potential Indonesian buyers, they will move the CPC plant to a remote uninhabited island, where it is hoped it will have a minimal effect on the country's environment. He said that the Indonesian buyers are hoping they will be able to not only buy the CPC naphtha cracking plant, which constitutes the upper stream segment of the entire petrochemical industry, but also to bring in a petrochemical supply chain from Taiwan. He said the CPC and the potential buyers are evaluating the possible effects of the deal.