CPC 15 local firms jointly promote value-added petrochemicals

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




Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Sunny possibilities of 2012 in bioenergy

The list consists of top 10 biofuels predictions for the year 2012. 10. Advanced biofuels capacity surges to 1 billion gallons, globally. We see 570 ...

Read more
US chemical sector rail traffic rises 10.2 pc

  WASHINGTON DC, US: The Association of American Railroads (AAR) reported gains in weekly rail traffic, with US railroads originating 287,137 ca ...

Read more
EPA to propose significant new use rules to 17 chemical substances

WASHINGTON DC, US: EPA is proposing significant new use rules (SNURs) under the toxic substances control act (TSCA) for 17 chemical substances. Subs ...

Read more
Petrobras discovers natural gas and light oil accumulation in Espirito Santo

SAO PAULO, BRAZIL: Petrobras announces the discovery of a new light oil and natural gas accumulation in the Golfinho Concession. The discovery was m ...

Read more
GCC packs high prospects for plastics industry

SHARJAH, UAE: The Gulf states have what it takes to become a plastics production powerhouse on the back of their abundant hydrocarbon resources, and d ...

Read more
EPA asked to change course on assessment of dioxin

  WASHINGTON DC, US: The American Chemistry Council (ACC), a chemical industry group, is asking the Environmental Protection Agency (EPA) to cha ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X