Taiwan News
Date: 2016-05-11
By: By Lin Meng-ju and Frances Huang, Central News Agency

Taipei, May 11 (CNA) State-owned CPC Corp., Taiwan said Wednesday that it is still in negotiations to sell a naphtha cracking plant located in Kaohsiung to Indonesia.

Chang Jui-tsung, a spokesman for CPC, told reporters that the state-run firm is still studying the possibility of allowing the potential Indonesia buyers to relocate the entire facility to a remote island in the Southeast Asian country.

CPC closed the oil refinery plant, called the fifth naphtha cracking plant, in 2015, amid rising awareness of environmental protection in Taiwan, and has been seeking to sell it.

According to local media, CPC had previously planned to relocate the plant to China. However, it turns out that CPC now plans to sell the plant to Indonesia, which has an ambition to build its own petrochemical industry. Chang said that Indonesia has a population of about 300 million and has a huge domestic market for petrochemical products.     [FULL  STORY]