CPC 15 local firms jointly promote value-added petrochemicals
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CPC and 15 local firms to jointly promote value-added petrochemicals

1:03 AM, 3rd January 2012
CPC and 15 local firms to jointly promote value-added petrochemicals
Ministry of Economic Affair, Minister Shih Yen-shiang is flanked by IDB Director-General Woody T J Duh (left) and CEO of the High-Value Petrochemical Sector Promotion Office Liu Jong-min at the facility’s opening on 30 December 2011, in Taipei.

 

TAIPEI, TAIWAN: Taiwan’s state-run CPC Corp forged a strategic alliance with 15 local firms, research centre and higher education institutions on 30 December 2011, ushering a new era of value-added petrochemical industry output. The partnership will see CPC set up centres for green energy research and innovative materials certification. The company is also looking to increase its annual R&D budget from NT$1.7 billion ($56.12 million) to NT$5 billion over five years, including NT$2.5 billion on forward-looking research.

Results of the projects will be shared by CPC with subsidiaries and other local firms. Subsequent technology is expected to be the basis of three major investment plans with a projected output of NT$70 billion by 2017.

© WOC News

 

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