Industry News

TJOCI Plans to Alliance with Axens as Technology Partner for the INA plant in Taiwan

Japan: Taiwan-Japan Oxo Chemical Industries (TJOCI), a joint venture between CPC Corporation and KH Neochem (KHNC), has selected Axens Technologies and Catalysts, a France based company, to provide technological support for its Isononyl Alcohol (INA) production plant in Taiwan. TJOCI is expected to invest USD414 million in construction of new plant and this plant is estimated to have an initial capacity of 180,000 tons to produce high value-added petrochemical products. The plant is expected to be operational by 2019. INA is further used to manufacture plasticizer Diisononyl Phthalate (DINP), which is further used in manufacturing of automotive parts, electric wires, cables and conducting materials. This is the largest investment made by Japanese and Taiwanese companies in the petrochemical industry in Taiwan. TJOCI would use several Axens Technologies such as Methyl Tertiary Butyl Ether(MTBE) and Dimersol-XTM technologies for synthesis of the INA via hydroformylation in the joint venture.

TechSci Research depicts that the newly formed joint venture would strengthen the position of CPC, KHNC and Mega International Commercial Bank (MICB) and Axens Technologies in petrochemical market. The joint venture would form a synergistic relationship between the joint venture forming companies. TJOCI would provide financial investment and Axens Technologies would provide technical expertise for manufacturing INA. The growing demand for phthalates, an end-user industry for INA, is expected to grow in the near future and this would augment the growth of TJOCI as well as Axens Technologies.

Relevant News