"All the conditions you proposed have been passed. Have you promised not to change the conditions?" Su Cheng seemed to have raised a stupid question. If the conditions you proposed have been passed, then isn't it a negotiation? Why do you have to change the conditions again?

If you want to change the conditions, why do you have to wait until the conditions are passed before changing them?

It has been more than a year since Formosa Plastics proposed. During this period, they have enough time to modify the conditions but have not modified them. In fact, if they have two years to modify the conditions according to history, why wait until the top Chinese officials agree to the conditions before modifying them?

The only explanation is that Formosa Plastics is delaying.

In order to pass the Six Light Plan, they need a Haicang Plan to serve as a bargaining chip to force the Taiwanese authorities, who are in charge of politics to agree. However, if the Haicang Plan is really passed, there will be no chance for the Six Light Plan.

Su Cheng speculated from this that Formosa Plastics' real goal should still be the Six Light Plan proposed in 1973. All actions during this period, including the Haicang Plan, were served for the Six Light Plan.

However, Sucheng did not want Formosa Plastic to continue to delay.

If you succeed, you will succeed; if you fail, you will disperse. Why waste everyone's time?

Director Mao did not expect such a serious possibility. He nodded thankfully to Su Cheng, turned to ask Wang Yongqing and said, "Chairman Wang, does Formosa Plastic intend to change the conditions?"

Everyone stretched their necks and looked at Wang Yongqing.

Wang Keling not only looked at his grandfather in surprise, but also at Su Cheng in surprise.

Maybe one minute, maybe two minutes, Wang Yongqing whispered: "If the mainland agrees with our conditions, Formosa Plastics will definitely take it seriously."

He is not easy to lie. If this is a trap and the mainland immediately agrees to the conditions, wouldn’t he turn out to betray the promise? It’s not nice to change the agreement without writing. It’s always the past, so how can the promise be changed easily?

Chinese officials were shocked. It was really possible that the conditions would be modified after agreeing.

It is normal for both parties to confirm that the previous revisions are normal. Isn’t negotiations just a condition? However, if one party agrees with the other party’s conditions and the latter modifys the conditions again, the situation will be unpleasant. For Director Mao, the senior management made a decision after a fierce discussion and suddenly told them to re-conference. Isn’t this your own bad luck? If it doesn’t work out, it will be broken.

Director Mao did not care about Su Cheng and asked: "Chairman Wang, isn't the conditions we are considering now? Isn't Formosa Plastics what we want?"

"The situation has changed, and I am still thinking about it." Wang Yongqing said indifferently: "There is such a possibility."

Director Mao said in extreme disappointment: "I must notify the leadership team of the new situation."

Wang Yongqing returned to sleeping with his eyes open.

Su Cheng was actually a little disappointed. Haicang's plan was still sliding along the historical trajectory, but the trajectory was revealed. However, things themselves did not change.

Su Cheng sighed deeply. At this time, there was nothing to ask. Even Director Mao had no intention of greetings, and hurriedly left, shaking hands and reporting to the upper hand.

The meeting ends here.

Su Cheng said goodbye too casually. The Haicang plan is a plan between the government and Formosa Plastics. Dahua is just a member of the middle and is no essential difference from the factories in Taiwan that rely on petrochemical bases. He has now used his only opportunity to play and can only wait quietly for the results.

When we returned to Diaoyu Guotai Hotel, no one went back to our room. We sat or stood waiting in the living room.

Su Cheng saw it and smiled and said, "What's wrong with you?"

"Dr. Su, if the Haicang plan is stopped, will we continue?" Chen Zunian asked the first question. A few days ago, everyone believed that the Haicang plan could continue because of the affirmation and support of the central leaders, and the participation and planning of the government. However, today's bystanders told them that in the economic field, the central leaders may not necessarily work.

Formosa Plastics dares to play with the two sides of the Taiwan Strait. It is not surprising to Europeans and Americans, but it is somewhat unexpected to mainlanders. What follows is skepticism. A petrochemical base does have too many things to consider. In addition to the economy, there are also political factors and geographical conditions. In the eyes of Chen Zunian and others, whether there is a Haicang plan for Formosa Plastics is different.

Su Cheng had some expectations, and he affirmed for the second time: "We will continue regardless of whether Formosa Plastics continues or not. This is an established policy."

"We can't afford 7 billion US dollars, right?" Liu Qiu asked silly.

Su Cheng had no choice but to answer: "I can't take it out now. But we don't have to build Formosa Plastics at such a large scale."

"How many can I take out?" Others wouldn't ask this except Liu Qiu.

Su Cheng looked at Xu Feng.

The latter hesitated for a moment and whispered: "The group's cash reserves are between US$20 million and US$30 million, and there is another large amount of oil futures."

Speaking of oil futures, Sucheng said: "The value of futures is about 180 million. Until yesterday."

The war has not yet begun, and Kuwait has been occupied. The oil futures market is almost changing with various resolutions of the United Nations and the United States. It can be imagined that the changes caused by these resolutions are not large enough, and oil prices are finally declining little by little until the troops of many countries send full force.

Sucheng was impressed by this time node, so he only maintained his attention to the futures market and did not really intervene.

Others think it is simple hedging, which is also what oil merchants do most often, locking their own profits through the futures market to avoid uncontrollable risks. It is equivalent to signing a long-term supply contract with the futures market, which is very convenient.

Zhong Zhigen calculated on the fat and said, "If you mortgage Dahua Industrial, you will probably get about $200 million. The oil field may have $1 billion, but..."

"The oil field cannot be mortgaged." Chen Zunian and others dissuaded one after another. Liu Qiu agreed: "Setan Oilfield is a hen that can lay golden eggs, and Haicang's big ethylene... Although it is also a hen that can lay golden eggs, it is not that cost-effective..."

The profits of the petrochemical industry naturally cannot be compared with crude oil production. The latter has much higher requirements for capital and technology.

Zhong Zhigen added: "Even if the oil fields are not enough, US$14 billion is a desperate bet. It is not enough to build a large ethylene project, let alone the supporting refineries."

Hearing this, Liu Qiu whispered: "If the funds are not enough, Formosa Plastics will withdraw, what else can we do? Will the country lend us a loan?"

"The state loan has been included just now." Zhang Chao reminded.

A group of people sat there and began to think hard.

Su Cheng returned to his room indecently. He was not particularly worried about the capital issue. The crude oil price was running at a high level for several months, and he made a lot of excess profits from the Setan Oilfield. Next, the crude oil price fell and he could also gain benefits from the futures market. Moreover, the petrochemical base was not a $70 million investment project built in one day. Perhaps only tens of thousands of dollars in advance would be enough. What is important is the continuous supply of funds.

In this regard, Dahua Industrial has a good foundation.

However, no one in Dahua Industrial Group regards the futures market as a channel for making money. As far as experience is concerned, there are not many large companies who get good luck in financial casinos.

Therefore, everyone first considers the channels for bank financing, and secondly, it is also about selling assets or borrowings - needless to say, it is extremely difficult to use $1 billion to leverage $7 billion.

Zhang Chao is already considering how to persuade Sucheng to give up. The 90% debt ratio is a terrifying thing. Except for companies like the Ministry of Railways, ordinary companies are difficult to afford. Companies whose financial costs account for most of the company's expenditures will become difficult to turn losses into profits.

Everyone is thinking, based on the information they know, and making decisions.

For everyone, this is not easy.

At night, when everyone was about to rest, Director Mao called in person to notify: "Dr. Su, tomorrow, please go to Building 6 to discuss the Haicang plan."

Su Cheng suddenly woke up from his drowsiness: "Who is there?"

"Ministry of Energy, Sinopec, CNPC and CNOOC."

"Are these four?"

Director Mao said helplessly: "What other companies do you want? However, there are differences within the Ministry of Energy. Sinopec is more interested in the petrochemical base, and CNOOC is more opposed. The Ministry of Energy mainly provides guidance, just know. Oh, now we need to add Dahua."

Before the reform of state-owned enterprises in 1998, the division of labor between Sinopec and CNPC was very clear. CNPC mainly focused on the upstream of the oil industry, from geophysical exploration to drilling to oil production, and also had a certain refining business. CNPC began its refining business, including downstream industrial chains, producing petrochemical products such as ethylene and methanol, and using petrochemical products such as ethylene and other petrochemical products to produce petrochemical products... Therefore, in 1990, CNPC had neither the petrochemical industry chain nor the idea of ​​entering petrochemicals. It was somewhat wishful thinking that they had to pay for the plan to save Haicang. CNPC, as well as coal and electricity represented by the Ministry of Energy, did not want to interfere in the petrochemical industry, and it was all a bit of a composting nature.

Su Cheng thought about it: "We are much smaller than them."

"Small and flexible." Director Mao laughed twice.

"What about the proportion?" Sucheng remembered the poor 5% that Dahua Industrial received when bidding for the oil field.

Director Mao probably also heard this story and immediately said: "Doing based on the investment ratio. We assume that the initial investment is US$7 billion, US$700 million per share, with 10%, and the proportion of investment can be given to Dahua. If there is a difficulty in funding, we can still arrange for banks to come forward. However, all of this is based on the premise that Formosa Plastics abandons the Haicang plan. If there is a chance, we should still actively promote this matter."

His phone call itself was already a push.

Su Cheng thought silently. The so-called arrangement of banks to come forward is the nature of a mortgage loan. With the scale of Dahua Industrial, it would be good to get 2 20%. Of course, such a large petrochemical project is indeed a lot. Many international giants will consider reducing their shareholding ratio to reduce risks when building a large petrochemical base. Because of Wang Yongqing's relationship, Formosa Plastics is strange, they have always liked to be sole proprietorship.

Thinking of Formosa Plastics, Su Cheng couldn't help but say: "If CNOOC and CNPC do not participate, just Dahua and Sinopec, will there be enough funds to replace Formosa Plastics?"

"This depends on Sinopec's determination. They have indeed done a lot of projects." Director Mao did not dare to take on them.
Chapter completed!