CPC reviews RI project

CPC reviews RI project

TAIPEI (Reuter): State-owned Chinese Petroleum Corp. said yesterday it was considering proposals to build a new naphtha cracker in Indonesia rather than moving its mothballed No. 2 cracker from Taiwan as planned.

"There are many suggestions among petrochemical companies saying Chinese Petroleum should reconsider the plan to move the No. 2 cracker," the oil giant's vice-president Wenent Pan said.

"This re-evaluation will not change our plan to establish a petrochemical park in Indonesia, though we may reconsider how the project should be carried out," Pan told Reuters.

If an evaluation shows that building a new cracker is more economical, the old one will not be moved, he said.