Taiwan's CPC Group Eyeing Petrochemical Project in Mundra SEZ

Gujarat is likely to see one of the largest foreign direct investments (FDI) in recent years with Taiwan’s state-run petroleum major China Petroleum Corporation Taiwan (CPC Taiwan) set to come up with Rs. 400-bn petrochemical park at the Mundra Special Economic Zone (SEZ).

The Taiwan state-run major may set up the project in tie-up with Adani Group. “Talks are in final stage. An agreement in this regard is likely to be signed during the next Vibrant Gujarat summit. The project may require around 800 hectare of land,” a report in a business daily sad, quoting a person close to the development. This comes close on the heels of Taiwan External Trade Development Council (TAITRA) chairman Mr. James Huang stating that Taiwanese companies should team up Indian majors to explore business opportunities. Mr. Huang told the Taipei Times that Adani Group and CPC Corp. are in discussions to jointly build a petrochemical park in the Mundra SEZ.