TAIPEI: Taiwan's staterun Chinese Petroleum Corp (CPC) and the Formosa Plastics Group are both planning to build multi-billion dollar heavy industrial complexes on the same site in the central part of the island, executives said yesterday.
CPC, the island's largest refiner, is hoping to spend T$370bil (US$11.6bil) on a 300,000 barrel-per-day refinery complex that includes a naphtha cracker with an annual capacity of 1.2 million tonnes of ethylene at a new development in the Yunlin technology industrial park, said executives.