JG Summit to Complete Construction of Philippines' First Cracker Next Year

JG Summit Holdings (Manila) informed the Philippine Stock Exchange today that it expects its naphtha cracker plant, the first in the Philippines, to contribute between $800 million to $1 billion to groupwide revenues when it starts production. The complany plans to complete construction of the $800 million naphtha cracker at the end of 2013 and to be in full commercial operation in the first quarter of 2014, says Lance Gokongwei, president of JG Summit. The project, based at Batangas City, will provide back integration for the existing JG Summit...

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