Kuokuang Petrochemical Park investment project to be scaled down

04-Jan-11

The Kuokuang Petrochemical Park investment project will be scaled down to increase the chances of it passing an environmental impact assessment according to state-owned oil refiner CPC Corp, Taiwan. Kuokuang Petrochemical Technology Co is a joint venture between CPC and several private companies, in which CPC will invest NT$250 billion (43% of the total investment). The investment will be reduced from over NT$900 billion (US$30.87 billion) to NT$600.5 billion, and output will be decreased from 450,000 bpd to 300,000 bpd, while planned ethylene output would be reduced from 2.4 mln tons to 1.2 mln tpa. The number of factories in the park will be lowered from 41 to 25, with its total area decreasing from 2,600 hectares to 1,900 hectares.