Kuokuang Petrochemical conducts feasibility assessment for project with Malaysia |
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(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. |
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mrcplast.com | |
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