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JG Summit Holdings, Inc. : JG Summit's Naphtha Cracking Plant to Start Operations November 2013

10/22/2012 | 05:07am US/Eastern
   By Cris Larano 
 

MANILA--JG Summit Holdings Inc. (JGS.PH) expects to open its $800 million naphtha cracking plant in November 2013, a few months ahead of its early 2014 schedule, the Philippine investment holding company's chief strategist said Monday.

Speaking at an investor forum arranged by local firm COL Financials, JG Summit's Bach Johann Sebastian said that once completed, the naphtha cracker could generate annual revenue of $1 billion based on current prices.

He said 25% of the plant's output would be exported and the balance would be for local industries.

JG Summit's naphtha cracker will allow it to produce 320,000 tons a year of polypropylene and add 110,000 tons of polyethylene to the group's capacity.

Write to Cris Larano at cris.larano@dowjones.com

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