Taiwan Invests US$26 Billion in Petrochemical IndustryThe Industrial Development Bureau (IDB) said on Tuesday that major investments in the domestic petrochemical industry have now reached a total of more than NT$800 billion (US$26.31 billion).IDB officials noted that the petrochemical industry is one of the nation's most important infrastructure industries, pointing out that around 80 percent of the raw materials used in information, electronics, engineering, and other local industries are petrochemical products. They said that the nation has to continue to promote major investment projects in the petrochemical industry so as to upgrade Taiwan's self-sufficiency rate in petrochemical products. The officials said that except for problems with the eighth naphtha cracker project, with an estimated investment of NT$196.3 billion (US$6.45 billion), and the seventh naphtha cracker plant, with an estimated investment of NT$250 billion (US$8.22 billion), all other petrochemical investment projects are progressing smoothly. |
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