CPC may build base oil plant in Vietnam

Taiwan-based CPC Corp., announced that it is considering setting up a plant to make lubricating base oils in Vietnam, serving as a supply base to tap the lubricant market in Southeast Asia. CPC President Chu Shao-hua will head a delegation to visit Vietnam. Chu noted that the CPC is lagging behind Formosa Plastics Corporation in investing in Vietnam, adding that CPC is prioritizing Vietnam in its overseas development strategy as the nation, a member of the Association of Southeast Asian Nations (ASEAN), is an ideal place to tap the ASEAN market. Chu also said CPC’s Lubricants Business Division has been actively seeking ways to set up distribution and production footholds in Vietnam. CPC has a subsidiary in Vietnam focusing on the production of liquefied natural gas. (April 23, 2009)