Taiwan is on its way to setting up a petrochemical cluster in Fujian province in China, which is to be set up at an estimated investment of US $ 6 billion over an area of 4.6 sq. km.
The idea behind the petrochemical cluster is to set an up a whole industry value chain with both upstream and downstream companies setting up their units in the industrial park.
The cluster which is located in the Quangang industrial park is expected to have a yearly refining capacity of 24 million tons, of which 3 million tons will be ethylene and over 1 million tons of synthetic resin and synthetic fibre respectively, by 2020.
Fibre2fashion News Desk - India
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