Chinese Petroleum Corp. to form petrochemical network, global logistics center

By John Westbrook,
OGJ Correspondent

TAIPEI, June 22 -- Taiwan's state-owned Chinese Petroleum Corp. (CPC) plans to form a domestic and overseas petrochemical network as a part of its plan to establish a global logistics center. The domestic network will coordinate the operations of the company's petrochemical production and storage facilities in Chienchen, Taichung Harbor, and Taipei Harbor.

The company recently completed a 15,000 tonne capacity ethylene storage tank at Chienchen and plans to build storage tanks for paraxylene at the new Taipei Harbor.

A company official said that CPC, which holds a 49% stake in the venture, has entered into a joint venture with Ocean Plastics Co. Ltd. and a number of minor partners to build 19 storage tanks for petrochemical products at Taipei Harbor.

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