Taiwan lifts ban on petrochemical investments in China: report

03 October 2013 04:39  [Source: ICIS news]

SINGAPORE (ICIS)--The Taiwanese government has lifted an investment ban on 30 products in China, including petrochemicals, paving the way for Taiwanese companies to invest in naphtha cracking facilities across the strait, the Taipei Times reported on Thursday.

The 30 approved items include 23 in agriculture and seven in petrochemicals, according to the Taiwanese daily, quoting a statement by the Executive Yuan - Taiwan's highest administrative body.

The statement did not specify as to which products have been approved but they include seven by-products of oil refining, according to the Taipei Times.

Meanwhile, a consortium comprising Taiwan’s Ho Tung Petrochemical Corp, LCY Chemical Corp and USI Corp is planning to invest in a petrochemical complex in the Gulei Development Zone in China's Fujian province, the news daily said.

By: Nurluqman Suratman

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