Taiwan Eyeing Petrochemical Industry

VIVAnews - Taiwan-based oil and gas company China Petroleum Corporation (CPC) is willing to invest in petrochemical project in Indonesia.

"Today, they're looking into the perfect location to develop the petrochemical hub. Their representatives had held a meeting with me," said Coordinating Minister for the Economy Hatta Rajasa on Thursday, April 15.

Hatta said CPC is ready to invest US$2.8 billion for the project by teaming up with either the national state oil and gas company Pertamina or private firm.

In addition to petrochemical industry, he said, Taiwan has also been granted permission from the governor of East Kalimantan to clear 100 thousand hectare of land to develop biodiesel.

"Apart from Taiwan, Japan and Korea have also set their eyes for Indonesia," he said.

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Translated by: Bonardo Maulana W