The state-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced three major investment projects for next year: the renovation of its refinery structure, the third naphtha cracker plant (三輕工廠) and the Kuo Kuang Petrochemical Technology Project (國光石化科技計劃).
The three projects are expected to be completed by 2015, with total investment exceeding NT$450 billion (US$13.41 billion) and could create as many as 40,000 jobs, CPC’s statement said.
CPC said it would invest NT$7.9 billion next year in the refinery structure renovation project to build residue oil cracking, alkylation and hydrotreating units at the Talin Oil Refinery and Taoyuan Oil Refinery.
This project will focus largely on investing in equipment that improves the quality of gasoline and diesel to supply more environmentally friendly oil products.
The company plans to enhance its competitiveness by increasing the production rate of high-value gasoline and diesel, it said.
As for the “Third Naphtha Cracker Renovation and Investment Project,” which began in 2005, CPC plans to inject NT$6.5 billion next year to upgrade the 30-year-old plant by adopting advanced production and environmental technologies.
The project is expected to be completed in 2012, with total investment reaching NT$46.9 billion.
DOLLAR CHALLENGE: BRICS countries’ growing share of global GDP threatens the US dollar’s dominance, which some member states seek to displace for world trade US president-elect Donald Trump on Saturday threatened 100 percent tariffs against a bloc of nine nations if they act to undermine the US dollar. His threat was directed at countries in the so-called BRICS alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining. While the US dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed
LIMITED MEASURES: The proposed restrictions on Chinese chip exports are weaker than previously considered, following lobbying by major US firms, sources said US President Joe Biden’s administration is weighing additional curbs on sales of semiconductor equipment and artificial intelligence (AI) memory chips to China that would escalate the US crackdown on Beijing’s tech ambitions, but stop short of some stricter measures previously considered, said sources familiar with the matter. The restrictions could be unveiled as soon as next week, said the sources, who emphasized that the timing and contours of the rules have changed several times, and that nothing is final until they are published. The measures follow months of deliberations by US officials, negotiations with allies in Japan and the Netherlands, and
Foxconn Technology Group (富士康科技集團) yesterday said it expects any impact of new tariffs from US president-elect Donald Trump to hit the company less than its rivals, citing its global manufacturing footprint. Young Liu (劉揚偉), chairman of the contract manufacturer and key Apple Inc supplier, told reporters after a forum in Taipei that it saw the primary impact of any fresh tariffs falling on its clients because its business model is based on contract manufacturing. “Clients may decide to shift production locations, but looking at Foxconn’s global footprint, we are ahead. As a result, the impact on us is likely smaller compared to
TECH COMPETITION: The US restricted sales of two dozen types of manufacturing equipment and three software tools, and blacklisted 140 more Chinese entities US President Joe Biden’s administration unveiled new restrictions on China’s access to vital components for chips and artificial intelligence (AI), escalating a campaign to contain Beijing’s technological ambitions. The US Department of Commerce slapped additional curbs on the sale of high-bandwidth memory (HBM) and chipmaking gear, including that produced by US firms at foreign facilities. It also blacklisted 140 more Chinese entities that it accused of acting on Beijing’s behalf, although it did not name them in an initial statement. Full details on the new sanctions and Entity List additions were to be published later yesterday, a US official said. The US “will
RSS