Philippines' JG Summit's naphtha cracker plan on track

13-Aug-05

Philippines is to have its first naphtha cracker onstream in 2008, materialized by JG Summit's push to kick start the US$350 million project amid doubts over the viability of the project, the small cracker size and funding issues. The closing date of its tender for the engineering, procurement and construction (EPC) contract for cracker has been deferred to Aug. 25 from Aug. 5 to allow one of the bidders to submit its plan. A delay in awarding the engineering deal for Philippines' first naphtha cracker by JG Summit Holdings Inc., has not upset the schedule. JG Summit is maintaining its building schedule as planned to commence at the end of this year, or early 2006. The five bidders for the cracker project include Linde AG , ABB Lummus Ltd. , Stone and Webster Ltd., and Kellogg, Brown and Root.