Petrochemical industry in Taiwan to see NT$100 bln investment in 2013

01-Apr-13

About NT$100 bln (US$3.35 bln) will be invested in Taiwan's petrochemical industry in 2013, including NT$15 bln in high-value petrochemical sectors, the Council for Economic Planning and Development (CEPD) was reported in CNA. This investment outlay was similar to the NT$99 bln invested in 65 projects last year. However, investment in high-value production is expected to rise about 13%, from NT$13.3 bln in 2012, supported by a program approved by the Cabinet last year to promote high value-added petrochemical development. The program aims to help downstream petrochemical companies become more innovative and competitive and to better integrate the industry's supply chain by creating a more favorable environment for higher value products. To meet the goal, the government is spending about NT$600 mln a year to encourage petrochemical businesses to invest more in research and development.