Taiwan's Grand Pacific Petrochemical invests $1.7 bln in China's Fujian - Xinhua

Grand Pacific Petrochemical

02/03/2020 13:46

BEIJING, March 2 (Reuters) - 
    * Taiwan's Grand Pacific Petrochemical Corp  1312.TW  plans
to
invest T$50 billion ($1.67 billion) to set up a petrochemical
production project in Quanzhou city in China's southeastern
Fujian province, China's state media Xinhua reported on Monday.
    * The project is expected to produce one million tonnes of
propane
dehydrogenation (PDH) and 900,000 tonnes of polypropylene (PP)
annually, Xinhua reported citing Quanzhou city party head Kang
Tao as saying. 
    * The first phase of the project, which is worth T$30
billion, is
expected to be put into production in 2023, Xinhua reported. 
($1 = 29.9600 Taiwan dollars)


 (Reporting by Roxanne Liu in Beijing and Meg Shen in Hong Kong;
Editing by Kirsten Donovan)
 ((meg.shen@thomsonreuters.com; 852-28436901; Reuters Messaging:
meg.shen.thomsonreuters.com@reuters.net))