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Kuokuang Petrochemical conducts feasibility assessment for project with Malaysia

May 18/2012
(plastemart) -- The Kuokuang Petrochemical Technology Co. will complete a feasibility assessment by May 2013 for a planned cooperation project with Malaysia, as per CNA. CPC, which holds a 43% stake of Kuokuang, said that upon completion, the assessment report will be submitted to the Ministry of Economic Affairs for approval.

Since a proposed petrochemical investment project in western Taiwan was scrapped in 2011, Kuokuang has been scouting for suitable overseas locations ever. Both Indonesia and Malaysia were options, and Kuokuang's board of directors chose the latter after careful evaluation. Additionally, CPC's fifth naphtha cracker in Taiwan will be closed in 2015 and that since the equipment in the plant still has a life expectancy of 20-25 years, the company will therefore consider relocating the equipment to Malaysia.

The other Kuokuang shareholders are Far Eastern Group, Chang Chun Group, the China Man-made Fiber Corp., Fubon Financial Holding Co. and Ho Tung Chemical Corp.

mrcplast.com
Author:Anna Larionova
Tags:oil, neftehimiya.
Category:General News
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