Taiwan's largest private petrochemical conglomerate, Formosa Plastics Group, plans to invest US$10 billion (RM34.94 billion) to build a petrochemical complex in China.
The plan encompasses:
* A joint effort with either China National Petroleum Corp or China Petroleum and Chemical Corp to build a 10 million tpa oil refinery in the port city of Ningbo.
* Building a 1.2 million tpa ethylene plant.
This news is interesting, as the Taiwanese government prohibits Taiwan firms from investing in upstream petrochemical plants on the mainland, as Taipei is trying to encourage investment at home and away from China to prevent the island from becoming overly reliant on the mainland economy.
14-Feb-07 
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