Chinese Petroleum Corp. plans to build Taiwans second base oil refinery, though probably not for at least four years.
An official with the island nations state-owned oil company said it intends to build a Group II plant with capacity to produce 4,400 barrels per day. The project would cost 4.5 billion Taiwanese dollars (US$130 million). A schedule has not been set because the refinery has not yet been worked into CPCs budget. Current thought, however, is for the facility to open by 2007.