John Westbrook
OGJ Correspondent
TAIPEI, Jan. 25 -- Kuokuang Petrochemical Technology Corp. (KPTC) plans to spend as much as $12.46 billion to build a refinery and petrochemical complex in Taiwan's Yunlin County.
Facilities will include a 300,000 b/d refinery, a naphtha cracker capable of producing 1.2 million tonnes/year of ethylene, an aromatics complex with output of 800,000 tonnes/year of paraxylene, 23 plants for middle and downstream operations, 14 cogeneration plants, and 13 docks.
Construction is expected to begin later this year, with completion scheduled for 2014.
KPTC is a joint venture of several leading Taiwan petrochemical companies. Major stockholders are Chinese Petroleum Corp. 43%, Oriental Union Chemical Corp. and the Chang Chun Group 20% each, and China Man-Made Fiber Corp. 10%. Minority stockholders include Fubon Financial Holding Venture Capital, Ho Tung Holding Corp., and Pan Asia Chemical Corp.