Formosa Petrochemical Corp (
"We will send a team to Guatemala soon to look into the investment environment there," said a Formosa Petrochemical official who declined to be named.
Costs, transportation, government incentives such as subsidies or preferential loans and other conditions will be carefully evaluated by the company before making a final decision, the official said without providing a specific timeframe.
During a visit to Taiwan last month, Oscar Berger, the president of Guatemala, was given a tour of Formosa Petrochemical's Sixth Naphtha Cracker in Yunlin County, accompanied by President Chen Shui-bian (
The Guatemalan government later said that it hoped Formosa Petrochemical would invest US$7.2 billion in building an oil refinery with the capacity to produce 360,000 barrels of oil per day, along with a power station, a port and oil storage facilities, the Formosa official said.
Formosa Petrochemical produces approximately 700,000 barrels of oil per day in Taiwan.
Business risk is also one of the factors to take into account, he said.
For example, San Sun Hat & Cap Co (
Formosa Petrochemical emphasized that its evaluation of the Guatemalan projects was at a preliminary stage.
During a four-nation tour of Latin American allies, Vice President Annette Lu (
Shares of Formosa Petrochemical closed up 0.47 percent to NT$85.4 (US$2.61), outpacing the benchmark TAIEX, which lost 1.01 percent yesterday.
The private-run refiner saw its sales increase last month 17.17 percent from a year ago to NT$61.61 billion. Sales for the first six months of the year rose 14.54 percent from the same period last year to NT$293.85 billion.
Formosa Petrochemical, which is a unit of Formosa Plastics Group (台塑集團), commands about 30 percent of the domestic gasoline market. It exports about 65 percent of its gasoline for higher profits.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
ROUGH RECORDS: Bonds in Japan, as well is in New Zealand, Australia and the US, are seeing the effects of a nervy market as stock exchanges across Asia edge down A deepening slump in Japanese government bonds added fuel to the selloff in global debt markets as rising oil prices stoked inflation fears and pushed yields to multi-decade highs. Japan’s 30-year yield yesterday surged as much as 20 basis points to the highest level since the tenor’s debut in 1999, before paring some of the move. Shorter-maturity Japanese debt was also under pressure, underscored by weak demand at a sale of five-year notes that offered a record-high coupon of 2 percent. Concerns over inflation and government spending rippling through markets including the US, Australia and New Zealand are being amplified in Japan,
Tokyo Electron's Taiwan unit today said in a written response that it respects the judicial process, takes the court ruling seriously and would not appeal in the Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) trade secrets case. Last month, a court fined the Taiwan unit of Japan's Tokyo Electron NT$150 million (US$4.74 million) in a case involving trade secrets related to TSMC's sensitive chip technology.
Wall Street is licking its chops over an unprecedented slate of massive initial public offerings (IPOs) set to arrive in the coming months, beginning with Elon Musk’s Space Exploration Technologies Corp (SpaceX) next month. That is expected to be followed by artificial intelligence (AI) rivals OpenAI and Anthropic PBC. The trio of mega listings, each eyeing valuations around US$1 trillion or more, constitutes a heady period of elevated risk and reward. SpaceX is targeting an IPO that would raise up to US$80 billion — about double the funds generated from all IPOs last year. OpenAI and Anthropic are eyeing IPOs raising US$60 billion. “We’re
RSS