MOSCOW (MRC) -- Taiwan’s state-owned CPC Corp has proposed to invest USD6.6 billion in a petrochemical project in Paradip, a seaport town in Odisha, reported Reuters with reference to the country’s oil minister.
The planned petrochemical project will use the feedstock produced at Indian Oil Corp’s refinery in Paradip, the minister tweeted after a meeting with a delegation led by CPC.
IOC, the country’s top refiner, operates a 300,000 barrels per day refinery at Paradip.
IOC chairman had said last year at a shareholder meeting that the company would invest 320 billion rupees (USD4.67 billion) over the next few years to augment its petrochemical capacity.
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.
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