CPC Corporation, Taiwan, unveiled its latest office Dec. 2 in the Indian capital of New Delhi, as the state-backed petroleum firm continues boosting its presence in New Southbound Policy target countries.
Approved by the Indian authorities in September, the new location follows on the heels of offices set up in Singapore, Dubai and Indonesia, in that order.
At the announcement ceremony, CPC General Manager Lee Shun-chin said India is a fast-growing market with a great amount of potential for expansion. Indian government policies such as Make in India, Digital India and Skill India also provide a favorable business climate for foreign enterprises, he added.
According to Lee, one headline project run out of the new office will be the US$800 million development of propylene derivatives conducted alongside Indian Oil Corp. producing materials suitable for use in liquid crystal displays.
The NSP framework provides CPC with the opportunity to raise Taiwan’s profile abroad, Lee said, adding that the company is eager to continue working closely with government departments to this end.
A key plank in the government’s national development strategy, the NSP seeks to deepen Taiwan’s agricultural, business, cultural, education, tourism and trade ties with the 10 Association of Southeast Asian Nations member states, six South Asian countries, Australia and New Zealand. (YCH-E)
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