Taiwan based CPC Corp., has recently opened a representative office in New Delhi as part of its plans to set up a plant in India and forge ties in the petrochemical industry.
With the establishment of CPC's representative office in New Delhi, the company will be able to forge cooperation with businesses in India's petrochemical industry.
CPC is currently in negotiations with the government-owned Indian Oil Corp. to jointly set up a USD800 million plant in India to produce propylene derivatives.
Propylene derivatives, which are usually used in the production of a wide range of items such as acrylic resin and raw materials for computer monitors, are in short supply in India, according to Lee. With India's huge population and fast-growing economy, demand for propylene derivatives is expected to rise sharply, he said.
