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CPC & Pertamina signed MoU to build new naphtha cracker

November 08/2018

MOSCOW (MRC) -- CPC Corp. of Taiwan and Indonesia's PT Pertamina have signed a memorandum of understanding (MoU) to set up a new naphtha cracker in Indonesia, reported Apic-online with reference to the Taipei Times, citing CPC Chairman Tai Chein.

The project, expected to cost USD6.47-billion, would in-volve the production of almost 1-million t/y of ethylene, meeting local demand.  Investment plans are expected to begin to "take shape" in the middle of 2019, Tai noted.

CPC has begun feasibility studies and is considering one of five sites proposed by the Indonesian govern-ment.  In addition, the government is offering an incentive package for petrochemical projects, which waives all corporate income taxes for the first 20 years and then provides a 50% tax cut for the following two years.

The partners would each have a 45% interest in the plant, with the remaining 10% to be held by Taiwanese and foreign petrochemical investors.

As MRC wrote before, in early December 2017, CPC Corporation resumed operations at its residue fluid catalytic cracker (RFCC) unit in Dalin following a turnaround. The unit was shut for maintenance in mid-September 2017. Located at Dalin in Kaohsiung, Taiwan, the RFCC has a production capacity of 400,000 mt/year.

CPC Corporation, Taiwan, is engaged in the exploration, production, refining, procurement, transportation, storage, and marketing of oil and gas. The company provides fuel oil, including automotive unleaded gasoline and diesel fuel, low-sulfur fuel oil, marine distillate fuels, marine residual fuels, and aviation fuel; petrochemicals, such as ethylene, propylene, butadiene, benzene, para-xylene, and ortho-xylene; liquefied petroleum gas products comprising liquefied petroleum gas, propane, butane, and a propane/butane mixture; lubricants, motor oil, industrial oil, grease, and marilube oil; SNC products, including petroleum ether, naphtha, toluene, xylene, crude octene, methyl alcohol, normal paraffin, viscosity-graded asphalt cement, and sulfur; and natural gas.
Author:Margaret Volkova
Tags:PP, PE, propylene, ethylene, CPC, Pertamina, Indonesia, Taiwan.
Category:General News
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