Taiwan’s state-run CPC Corp. forged a strategic alliance with 15 local firms, research centers and higher education institutions, ushering a new era of value-added petrochemical industry output, as per Taiwan Today. The partnership will see CPC set up centers for green energy research and innovative materials certification. CPC is considering an increase in its annual R&D budget from NT$1.7 bln (US$56.12 mln) to NT$5 bln over five years, including NT$2.5 bln on forward-looking research. Results of the projects will be shared by CPC with subsidiaries and other local firms. Subsequent technology is expected to be the basis of three major investment plans with a projected output of NT$70 billion by 2017.