Japanese firms show interest in Taiwanese oil company's investment plan in India

Taipei [Taiwan], Dec 22 (ANI): On a bright note, Japanese firms are keen in an investment plan of Taiwanese state-owned oil refiner CPC Corp. in the Indian market.

Some renowned Japanese firms are mulling to invest in CPC's project in India, which seeks to develop a petrochemical cluster with integrated upstream, mid-stream and downstream enterprises in one industrial park, local media quoted CPC Chairman Tai Chein, as saying in an interview to CNA.

The state-owned company, which along with other petrochemical firms has sent two delegations to India this year to survey the Indian market, is likely to enter talks with Indian-based conglomerate Adani Group to jointly fund Gujarat's Mundra petrochemical industrial park project.

According to Tai, as Adani, who owns railway, power plant and airport assets in India, has built an excellent relationship in Indian business and political circles, cooperation with the group is expected to bode well for CPC's future investments in the country.

Adani Group, headquartered in Ahmedabad, is the largest port developer and operator in India with Mundra Port being a commercial port.

Its diversified businesses include resources, logistics, agribusiness and energy sectors.

It owns Fortune, India's largest edible oil brand through a joint venture with Wilmar International in Singapore. (ANI)

This story has not been edited. It has been published as provided by ANI