petrochemical company to expand in PH
December 6, 2017
MAKATI – The
Philippines (PH) continues to receive business intentions and
expansion projects from large companies based in China (CN).
In a recent meeting
between Department of Trade and Industry (DTI) Secretary Ramon Lopez
and Handi Group President Hanling Wu, they discussed possibility of
investments of the company in a petroleum refining and petrochemical
manufacturing facility in the country.
“We welcome business
intentions to strengthen our petrochemical industry, which the
government actively supports. They expressed strong confidence on
the business environment stability during the Duterte
administration,” said Sec. Lopez.
Handi Group is one of the
largest and advanced private specialty oil producers in China. The
conglomerate is based in Hainan Province and engages in multiple
industries, including oil refinery, chemical industry, trading,
investment, and financing.
The group, through its
subsidiaries Hainan Handi Sunshine Petrochemical Co., Ltd. (HDS),
Hainan Handi Petrochemical Co., Ltd. (HDP), Handi Lubricant
Technology (China) Co., Ltd., Handi Sunshine Trading Co., Ltd., and
Handi Investment, has established a full scale and long-term
strategic cooperation with large international energy companies such
as ExxonMobil, Total, Chevron, and BASF.
Sec. Lopez opened the
discussion of putting up a facility in Mindanao, which will be
suitable for the company’s power, land, and accessibility
Mr. Wu conveyed the need
of Handi Group for a pool of technical staff, specifically
engineers, from PH and the availability of talents in Mindanao.
“There are a lot of
universities in Mindanao that produce quality graduates and
professionals in the field of engineering. We have good universities
present in all parts of PH,” the Sec Lopez said.