Formosa posts doubling of petrochemicals revenue

12 February 2008 08:57  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical more than doubled its January petrochemicals revenue after it brought on stream Asia’s largest cracker in the middle of last year, it said on Tuesday.

 

Its petrochemical revenue rose to New Taiwan dollars (NT$) 25.2bn ($787.5m), from NT$12.1bn in the same period of 2007, the company added.

 

Revenue for naphtha also jumped to NT$8.1bn, from NT$1.7bn during the same period as prices reached record highs in 2007.

 

For the group, revenue in January reached NT$79.5bn, up 67.6% from the same month a year ago.

 

($1 = NT$32.00)

By: Florence Tan
+65 6780 4359

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