CPDC to relocate 50% of its overall production capacity to Jiangsu province

16-Mar-12

In a bid to cope with the park-rezoning resolution by the Taiwanese government, China Petrochemical Development Corp. (CPDC) has resolved to relocate half of its overall production capacity to Jiangsu province, as per CENS. The Taiwanese government has requested the company to relocate its plant in Dashe Petrochemical Park in Kaohsiung City in seven years from now. The relocated production capacity accounts for approximately 40% of its overall profitability. The problem of relocation is faced by almost all petrochemical manufacturers located in the Dashe Petrochemical Park, including USI Far East Corp., Grand Pacific Petrochemical Corp., Lee Chang Yung Chemical Industry Corp., China Man-made Fiber Corp., Taiwan Synthetic Rubber Corp. and Pan Asia Chemical Corp. CPDC said it will duplicate the operations of its production facility in Dashe Petrochemical Park to Jiangsu Province in the foreseeable future. Chinese Petroleum Corp. (CPC) is expected to move out all of its oil-refining facility in Kaohsiung City, dubbed the fifth naphtha-cracking plant, in two years from now.