CPC considers US investments

RED TAPE:The company expects a September start date, but said there are certain regulations for state-owned firms that could slow its foray into the changing market

Taipei Times
Date: May 29, 2017
By: Staff writer, with CNA

State-owned CPC Corp, Taiwan (CPC, 台灣中油) is considering investing in shale gas extraction and a petrochemical plant in the US, company chairman Chen Chin-te (陳金德) said yesterday.

Chen is scheduled to depart for the US on June 14 on a fact-finding visit.

Chen said that CPC and its affiliates would like to invest about US$10 billion in the US, with the aim of adopting more advanced technology to produce higher-quality ethylene at a lower cost.

He said the first step is next month’s visit to the US, when he will be accompanied by Minister Without Portfolio Ho Mei-yueh (何美玥), to explore the possibility of investing in natural gas in Louisiana.

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