Tuesday, March 18, 2008

Petron mulls US$1.5 bln investment in new petrochem facility

As the entry of a new shareholder seems imminent, Petron Corp. plans to invest US$1.5 bln in a new facility. This investment will be allocated for production of high-value products and petrochemical feed stocks, mainly through the second phase of its Petro Fluidized Catalytic Cracker (PetroFCC) unit, which should be on stream by 2014. PetroFCC has a conversion capacity of 19,000 bpd and will have the capacity to produce 140,000 metric tons of propylene.
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