15 January 2013 09:12 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Kuokuang Petrochemical Technology is currently conducting a feasibility study on its proposed project in Malaysia that is expected to be completed by the middle of this year, an industry official said on Tuesday.
“A feasibility study on the project will be concluded by end-June 2013,” Jack Shieh, executive director of the Petrochemical Industry Association of Taiwan (PIAT), told ICIS.
The project, which was originally planned to be built at Changhua County in Taiwan, may fare better in Malaysia, where a major regional petrochemical hub is being developed, said Shieh.
Malaysian state-owned oil and gas firm PETRONAS is spearheading a $20bn (€15bn) refinery and petrochemical integrated development (RAPID) project in Pengerang, Johor, with foreign partners. The RAPID project is scheduled for commissioning in 2016.
Kuokuang’s proposed project in Changhua County had suffered the withdrawal of support from the Taiwanese government in 2011 amid widespread protests over the potential adverse environmental impact of the project.
Instead of scrapping the project, the company decided to look for an alternative location outside of Taiwan.
The petrochemical project is supposed to include a 300,000 bbl/day refinery and a 1.2m tonne/year cracker, according to an earlier report.
“The [Kuokuang] project [in Malaysia] will be more or less the same compared to the original project,” Shieh said, without providing details.
Taiwan’s state-owned refiner CPC Corp controls 43% of Kuokuang Petrochemical.
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