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Office for petrochemical industry opened

Office for petrochemical industry opened

Taipei, Dec. 30 (CNA) The Ministry of Economic Affairs on Friday launched an office to promote the higher value of the nation's petrochemical industry. Economics Minister Shih Yen-shiang pointed out the importance of the petrochemical industry and related sectors to Taiwan when he presided over the plaque-unveiling ceremony of the office. "The production value of the petrochemical industry amounts to NT$1.8 trillion. If peripheral sectors are included, the figure could reach NT$4 trillion,"Shih said. He said that it was decided in a recent meeting that the petrochemical industry in Taiwan will operate along the line"of upgrading its quality in Taiwan, but upgrading its quantity overseas." "With limited resources in Taiwan, we should target other nations in order to upgrade the quantity," Shih said.
As for the upgrading of the quality domestically, Taiwan will first upgrade the value of its supply chain, then promote the high-end use of such petrochemical products as C5 and C9.
In addition, Shih noted that some emerging industries, such as the biotech, photovoltaic and information industries, have to rely on imports for their high-end materials. If the domestic petrochemical industry could provide them, it would also help the development of the industry. The director of the office will be Liu Jong-min, vice president of Industrial Technology Research Institute, according to Shi. (By Huang Chiao-wen and Lilian Wu)


Updated : 2021-02-26 09:10 GMT+08:00