The US$ 800 million naphtha cracking plant, being set up by the Philippines based JG Summit Holdings Inc., would become operational in November 2013. Mr. Bach Johann Sebastian, chief strategist of the Philippine investment holding company, said the naphtha cracker would generate annual revenue of US$ 1 billion, based on current prices, when it becomes functional a few months earlier than its early 2014 schedule. Speaking at an investor forum, Mr. Sebastian said around 75 percent of the plant’s production would be supplied to local industries and the remaining 25 percent would be exported to other countries. Once functional, the naphtha cracker will increase JG Summit’s polypropylene production capacity to 320,000 tons per year.
Fibre2fashion News Desk - India