JG Summit to expand petrochem capacity to 500,000 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)

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