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| Affiliates |
The CPC holds equity in numerous companies, both at home and overseas.The most representative of these are introduced below:
■ KuoKuang Power Co. Ltd. (KKPC)
In line with the government policy of opening power plants to private operation in order to alleviate northern Taiwan’s insufficiency of power supply, the CPC and private investors have jointly established the KuoKuang Power Co. (with the CPC holding 45% of the equity) and constructed a gas-fired power plant with an installed capacity of 480MW at Guishan Township in Taoyuan County.The plant began commercial operation on Nov. 3, 2003.
■ China American Petrochemical Co. Ltd. (CAPCO)
Established in 1976, the China American Petrochemical Co. is the major supplier of purified terephthalic acid (PTA) to the polyester industr y in Taiwan. The company is capitalized at NT$6.88 billion, and its plants in Taichung and the Linyuan Petrochemical Complex in Kaohsiung have a combined annual capacity of 1.9 million tons. The CPC owns 38.57% of the company’s equity, including preferred stock.
■ CPC-Shell Lubricant Co. Ltd. (CSLC)
The CPC-Shell Lubricant Co., established in 1965, is located at the CPC’s Kaohsiung Refinery and produces mainly base oils, lubricants, and byproducts.The CPC holds 49% of the company’s equity.
■ Dai Hai Petrol Corp. (DHP)
Established in 1994, the Dai Hai Petrol Corp. is headquartered in Haiphong, Vietnam and owns docks, receiving equipment, and liquefied petroleum gas (LPG) storage and distribution facilities with a capacity of 1,050 tons. It also operates two LPG filling stations, in Hanoi and Ha Tay. The company engages primarily in the storage, transport, and supply of LPG, asphalt, and other petroleum products in northern Vietnam.The CPC owns 35% of its equity.
■ Qatar Fuel Additives Company Limited (QAFAC)
The Qatar Fuel Additives Company Limited (QAFAC) was established in
1996 as a joint venture between the CPC, Industries Qatar, LCY Middle East Corp. and International Octane Ltd. of Canada. QAFAC’s plant is located in the Mesaieed Industrial Zone; it went on line on June 20, 2000, producing mainly methanol and methyl tert-butyl ether (MTBE).The CPC holds 20% of the company’s equity.
■ Faraway Maritimes Shipping Co. (FMSC)
The Faraway Maritimes Shipping Co. was jointly established in 1997 by the CPC and foreign partner Osprey; it built the LNG carrier Golar Mazo, which was delivered on Jan. 7, 2000 and went into service on the 15th of that month. The ship carries LNG purchased from Badak VI in Indonesia, completing 27 voyages in 2008.The CPC owns 40% of the equity in the company.
■ Chun Pin Enterprise Co., Ltd. (CPEC)
The Chun Pin Enterprise Co. was established by the CPC (with 49% of the equity) and private investors to carr y out construction of East Wharfs 4, 5, and 6, as well as E2-2-area storage tanks at the Port of Taipei, and to engage in the storage and transshipment of petroleum and petrochemical products. Formal operation started in May 2006.
■ Kuokuang Petrochemical Technology Co. (KPTC)
To facilitate the vertical upstream, midstream, and downstream integration of oil refining and petrochemical production, the CPC and other domestic companies established the KPTC as a joint venture in 2006 as part of a Petrochemical Technology Zone Joint Investment Plan. The plan includes the construction of an oil refinery, olefin center, aromatic hydrocarbons center, mid- and downstream petrochemical derivatives plants, co-generation facilities, and industrial harbor. The CPC’s share of the investment is
43%.
■ NiMiC Ship Holding Co., Ltd. (NSHC)
The NiMiC Ship Holding Company was jointly established by the CPC, NYK, and Mitsui, and has four ship-owning companies under its umbrella. The four companies are building four LNG tankers, to be delivered 2009 and 2010, for the transport of LNG purchased from RasGas Ⅱ in Qatar. The CPC completed its share capital investment in the holding company on Oct. 31, 2008,
giving it 45% of the company’s equity.
■ NiMiC Ship Management Co., Ltd. (NSMC)
The NiMiC Ship Management Company was jointly established by the CPC and foreign partner NYK to handle the operation and management of four LNG tankers. The CPC completed its share capital investment on Oct. 31, 2008, giving it 45% of the equity in the company.
■ Ras Laffan Liquefied Natural Gas Company Limited Ⅱ（RasGasⅡ）
RasGasⅡ was jointly established in 2001 by Qatar Petroleum and ExonMobil RasGas Inc.The company’s operations include natural gas production, liquefaction, and marketing. The CPC completed an investment project on Sept. 18, giving it a 5% interest in RasGasII’s Series B profit center.
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