Taipei--State-owned CPC Corp, Taiwan is considering the possibility of investing in shale gas extraction and a petrochemical plant in the United States, according to its chairman Chen Chin-te (???), who is scheduled to depart June 14 on a fact-finding visit to the U.S.
Chen told CNA Sunday that the broad idea is for CPC and its affiliates to invest approximately US$10 billion in the U.S. with the aim of adopting more advanced technology to produce ethylene of a higher quality and at a lower cost.
He said the first step will be a visit in mid-June to the U.S., accompanied by Minister without Portfolio Ho Mei-yueh (???), to explore the possibility of investing in natural gas in Louisiana.
One issue of concern, however, is whether petrochemical products from a CPC downstream factory would have a strong market in the U.S., Chen said, noting that since U.S. President Donald Trump took office in January, he has made American manufacturing a top priority.
Chen forecast a start date in September, if the project gets off the ground, but added that state-owned companies like CPC are subject to certain regulations that could slow down the overseas investment efforts and hamper quick adaptation to changing markets.
Source: Focus Taiwan News Channel