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JG Summit to expand petrochem capacity to 500,000 tons

15 Jun '16
1 min read

Philippines based JG Summit Holdings will increase its ethylene and propylene production capacity to 500,000 tons by 2019 from its current capacity of 320,000 tons.

The company will invest up to $600 million over the next three years to increase its petrochemical production capacity, JG Summit president Lance Gokongwei told mediapersons after the company's recent stockholders meeting.

JG Summit Petrochemicals Group (JGSPC), which has a manufacturing complex in Barangay Simlong, Batangas City, 120 km south of Manila, intends to begin production of butadiene as well as aromatics compounds like benzene, toluene and xylene isomers. This will reduce Philippines' dependency on imports of these items.

Currently, exports contribute nearly 50 per cent to the revenue of JGSPC's petrochemical division. Ethylene and propylene are majorly exported to North Asia while resin has demand in Europe, Gokongwei said. (RKS)

Fibre2Fashion News Desk – India

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