Taiwan’s Chinese Petroleum Corp (CPC) will lead a group of Taiwan companies into a $6 billion project to build the world’s biggest petrochemical plant in the UAE.

The plant, to be constructed in Abu Dhabi, will include a naphtha cracker with an annual capacity of 1.3 million tonnes of ethylene, said the Economic Daily News.
“Ethylene production will be highly efficient while the cost of producing petrochemical raw materials will be low and the plastics materials will be very internationally competitive,” the newspaper quoted CPC vice-president Roy Chiu as saying.
The deal also involves the UAE taking a 20 per cent stake in a CPC-led petrochemical plant planned for southern Taiwan, where a 300,000 barrel-per-day refinery and 1.2 million tonne naphtha cracker is to be built, the paper said.
The project will include plants producing 400,000 to 500,000 tones of butadiene, 900,000 tonnes of propylene and 900,000 tonnes of polyethylene annually among other products, the paper said.