Taiwan’s CNPC will set up a India office to continue to look for investment opportunities

Regarding the progress of Taiwan's CNPC's investment in the Indian Petrochemical Park, Taiwan's CNPC today (20) stated that the investment in the investment company Axens has estimated that the investment amount of the investment case is high and the benefits are not good, causing other investment team members to have no intention. In the next stage of evaluation, Taiwan's PetroChina decided to set up another site, look for new investment opportunities, and set up an Indian office to deepen India and gain an in-depth understanding of the local investment environment and related regulations.

Regarding the outside world, Taiwan's CNPC India's investment case was frustrated. Taiwan's CNPC clarified that it was not frustrated or being blocked by the outside world; Taiwan's PetroChina and other petrochemical companies formed the Indian Petrochemical Union in 107 years 7~ During November, Axens, an international consulting company, was jointly appointed to invest in the petrochemical park investment case in the Beraja land next to the Mundra Special Economic Zone in Gujarat. The initial feasibility assessment was carried out. According to the Axens assessment, the investment amount in this case was as high as NT$400 billion. Most members of the alliance consider the investment amount to be high and the benefits are not as good as expected, so they are not willing to conduct the next stage of evaluation. To this end, Taiwan's PetroChina decided to take another site and seek other Indian investment opportunities.

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As for the media report on the cooperation between the German chemical producer BASF and the Indian Adani Group, the two parties signed a memorandum (MOU) on January 17, 2008. It is expected to invest in a propane dehydrogenation plant and acrylic acid near the port of Mundra in Gujarat, India. The derivative plant, the investment feasibility assessment is expected to be completed by the end of 108, and the current estimated investment amount is about NT$70 billion (2 billion euros). However, the content, content, scale and location of BASF and Taiwan PetroChina's investment projects are different, and Adani Group recommends that Taiwan's CNPC Investment Plant be located 30 kilometers away from Mundra Port and located in a very high earthquake risk zone and adjacent active faults, resulting in Investment risks and costs increase.

In line with the government's new southward policy and increased overseas investment base, Taiwan PetroChina will continue to seek investment opportunities in India, set up an office in India, gain an in-depth understanding of the Indian tax system, regulations and investment environment, and continue to look for new investment opportunities in India. Indian state-owned oil company IOCL, state-run ONGC and other companies further discuss cooperation investment opportunities.

Source: Ministry of Economic Affairs R.O.C