CPC buys RI naphtha<\/p>\n
TAIPEI (Reuter): Taiwan's state-run Chinese Petroleum Corp
\n(CPC) said it signed two preliminary agreements with groups of
\npetrochemical firms on Saturday, paving the way for a plan to
\nmove its No. 2 naphtha cracker to Indonesia.<\/p>\n
The first pact involves the formation of a joint venture with
\nseveral Taiwanese and Indonesian firms for the operation of CPC's
\nNo. 2 cracker once it is moved to Indonesia from Taiwan's
\nsouthern city of Kaohsiung, a CPC statement said.<\/p>\n
CPC will take 30-35 percent of the total stake, while two
\nIndonesian firms, PT Graha Centermine and Maspion Group, will
\nshare another 30-35 percent.<\/p>\n
Taiwan's Oriental Union Chemical, Union Petrochemical Corp
\nwill each take 15 percent, and China Development Corp will have
\nfive percent.<\/p>\n
The second pact with several local downstream petrochemical
\nfirms and Indonesia's Maspion Group names them as partners to
\nestablish plants along with CPC's Indonesia project.<\/p>\n
The Taiwan partners included Union Petrochemical, Grand
\nPetrochemical Corp, Taiwan Synthetic Rubber Corp, Formosa Union
\nChemical, Chi Mei Industrial and Yuen Liang Industrial.<\/p>\n
Under plans announced by CPC in August 1995, construction of
\nthe No. 2 cracker in Indonesia would begin in 1998. It would have
\nannual production capacity of 230,000 tons of ethylene.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/cpc-buys-ri-naphtha-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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