UAE-based International Petroleum Investment Co. (IPIC), earlier planning to purchase a 20% stake in the Chinese Petroleum Corp (CPC) affiliate Kuokwang Petrochemical Co is contemplated to have signed a memorandum of understanding to purchase a stake in the US$11.6 billion petrochemical project at Yunlin in western Taiwan.
The proposed petrochemical project is likely to include a 300,000 b/d refinery, intended to replace a facility in Kaohsiung that CPC is foreseen to shut down by 2015.
30-Jun-05 
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