Chapter 267 Changes

"All the conditions you proposed have been passed. Do you promise not to change the conditions?" Su Cheng seems to have raised a stupid question. If the proposed conditions are all approved, isn't it settled? Why do you want to change the conditions?

If you want to change the condition, why wait until the condition passes?

It has been more than a year since it was proposed by Formosa Plastics. During this period, they have a lot of time to modify the conditions but have not been modified. In fact, according to history, they have enough time to modify the conditions for two years. Why wait until the senior management of the country agrees to the conditions before modifying them?

The only explanation is that Formosa Plastics is procrastinating.

In order to pass the Six Light Plan, they need a Haicang Plan to be a bargaining chip to force the political Taiwan authorities to agree. However, if the Haicang plan is really approved, the six light will be hopeless.

Su Cheng speculated that the real goal of Formosa Plastics 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, Su Cheng doesn't want Taiwan Plastics to keep procrastinating.

If it is done, it will be done. If it is not done, it will be scattered. There is no need to waste everyone's time.

Director Mao didn't expect such a serious possibility. He nodded to Su Cheng in gratitude and turned his head to ask Wang Yongqing, "Chairman Wang, do you intend to change the conditions?"

Everyone stretched out their necks and aimed at Wang Yongqing.

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

Maybe a minute, maybe two minutes, Wang Yongqing whispered, "If the mainland agrees to our conditions, Formosa Plastics will take it seriously."

It's not easy for him to lie. In case this is a trap, the mainland immediately agrees to the terms, won't he turn his promise? It's not good to change the agreement before it's written. After all, how can the promise be changed easily?

Chinese officials were stunned, and it was really possible to modify the conditions after agreeing.

The two sides confirm that the previous modification is normal, isn't it just a negotiation? However, if one party agrees to the other party's conditions and the latter modifies the conditions, the scene will not look good. For Director Mao, the senior management made a decision after fierce discussion, and then suddenly told them to talk about it again. Isn't this talking nonsense? If you don't do it well, it will be broken.

Director Mao didn't care about Su Cheng and asked, "Chairman Wang, aren't the conditions we are considering now what Formosa Plastics wants?"

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

Director Mao said disappointedly, "I must inform the leading group of the new situation."

Wang Yongqing returned to sleeping with his eyes open.

Su Cheng is actually a little disappointed. The Haicang plan is still sliding along the historical trajectory, but the trajectory is revealed. However, the matter itself has not changed.

Su Cheng sighed deeply. At this time, there is actually nothing to ask. Even Director Mao didn't want to greet him. He simply shook his hand and left in a hurry and reported upwards.

The meeting is over.

Su Cheng also said goodbye. The Haicang Plan is a plan between the government and Formosa Plastics. Dahua is just a member in the middle, which is not fundamentally different from those factories in Taiwan that rely on petrochemical bases. He has now used up his only chance to play and can only wait for the result quietly.

Back to the Diaoyu Guotai Hotel, no one went back to their room, or sat or stood in the living room.

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

"If Su Donghaicang's plan is stopped, will we continue?" Chen Zunian was the first to ask. A few days ago, everyone believed that the Haicang plan could continue because of the affirmation and support of the leaders of the Central Committee of the Communist Party of China, and the participation and planning of the government. However, today's bystanders tell them that in the economic field, the leaders of the Central University may not be useful.

It is not surprising for Europeans and Americans to dare to play on both sides of the Taiwan Straits, and it is a little unexpected for mainlanders. What follows is skepticism. There are indeed too many things to consider in a petrochemical base. 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 of Formosa Plastics is different.

Su Cheng expected something. He affirmed for the second time, "Whether the Formosa Plastics continues or not, we will continue. This is the established policy.

"

"We can't afford $7 billion, can we?" Liu Qiu asked stupidly.

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

"How much can you take out?" Except for Liu Qiu, no one will ask like this.

Su Cheng looked at Xu Feng.

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

When it comes to oil futures, Su Cheng 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 the various resolutions of the United Nations and the United States. It can be borne that the changes caused by these resolutions are not big enough, and the price of oil is finally falling little by little until the multinational force fully dispatchs troops.

Su Cheng was impressed by this time node, so he only kept his attention to the futures market and did not really get involved.

Others think it is simple hedging, which is also the most common thing for oil merchants to lock in their profits through the futures market to avoid uncontrollable risks. It is equivalent to a long-term supply contract with the futures market, which is very convenient.

Zhong Zhigen calculated on Pang and said, "If you mortgage Dahua Industry, you can get about 200 million US dollars.

The oil field may have 1 billion US dollars, but..."

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

Naturally, the profits of the petrochemical industry cannot be compared with crude oil production. The latter has much higher requirements other than capital and technology.

Zhong Zhigen added: "Even adding oil fields is not enough. 1.4 billion US dollars is a desperate gamble. It's not enough to do a large ethylene project, not to mention the supporting refineries.

Hearing this, Liu Qiu whispered, "If the funds are not enough, Taiwan Plastics will withdraw. What else can we do? Will the state lend us a loan?

"The national loan has just been included." Zhang Chao reminded me.

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

Su Cheng went back to his room very unnaturally. In fact, he is not particularly worried about capital. The price of crude oil has been high for several months, and he has made a lot of excess profits from the Setan oil field. Next, the price of crude oil fell, and he could also take benefits from the futures market. Moreover, the petrochemical base is not built in a day. For a $7 billion investment project, only tens of thousands of dollars may be enough in advance. What is the important thing is the continuous supply of funds.

At this point, Dahua Industry has a good foundation.

However, no one else in Dahua Industrial Group regards the futures market as a channel to make money. In terms of experience, not many large companies get lucky when they get involved in financial casinos.

Therefore, the first thing everyone considers is the channel of bank financing, and the second is the sale of assets or borrowing - needless to say, it is extremely difficult to leverage $7 billion with $1 billion.

Zhang Chao has been considering how to persuade Su Cheng to give up. The 90% debt ratio is a terrible thing. Except for enterprises like the Ministry of Railways, ordinary enterprises are difficult to afford. For companies whose financial costs account for most of the company's expenditure, it will be very difficult to turn losses into profits.

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

It's not easy for everyone.

In the evening, when everyone was ready to take a break, Director Mao personally called to inform: "Sou, please go to Building 6 tomorrow to discuss the Haicang plan."

Su Cheng suddenly woke up from drowsiness: "Who will participate?"

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

"Are these four again?"

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

Before the reform of state-owned enterprises in 1998, the division of labor between Sinopec and PetroChina was very clear. PetroChina mainly engaged in the upstream of the oil industry, from geophysical exploration to drilling to oil production, it also had a certain oil refining business. PetroChina began to include the downstream industrial chain from the oil refining business, producing petrochemical products such as ethylene and methanol, and using petrochemical products such as ethylene to produce polyethylene and other petrochemical products... Therefore, PetroChina in 1990 had neither the petrochemical industry chain nor the idea of entering petrochemicals. Let them pay for the Haicang Some wishful thinking. CNOOC, as well as the coal and electricity represented by the Ministry of Energy, do not want to join the petrochemical industry, which is all in the nature of a number.

Su Cheng thought and said, "We are much smaller than them."

"Small and flexible." Director Mao laughed twice, "What about the proportion?" When Su Cheng was bidding for the oil field, Dahua Industry got a poor 5%.

Director Mao probably also heard of this story and immediately said, "It will be decided according to the proportion of capital contribution. We assume that the initial investment is 7 billion US dollars, 700 million US dollars per share, 10%, and the proportion of investment, which can be given priority to Dahua. If the funds are difficult, we can also arrange for the bank to come forward. However, all of this is based on the premise that Formosa Plastics gives up the Haicang plan. If we have the opportunity, we still need to actively promote this matter.

His phone itself is already a push.

Su Cheng thought silently. The so-called arrangement of banks is the nature of mortgage loans. With the scale of Dahua Industry, it is good to get two 20%. Of course, there are indeed a lot of 20% of such large petrochemical projects. When many international giants build new large petrochemical bases, they will also consider reducing the shareholding ratio to reduce risks. Due to Wang Yongqing's relationship, Formosa Plastics is relatively strange. They have always liked sole proprietorship.

Thinking of Formosa Plastics, Su Cheng couldn't help saying, "If CNOOC and PetroChina do not participate, only Dahua and Sinopec, will there be enough funds to replace Formosa Plastics?"

"Well, it depends on Sinopec's determination. They really have a lot of projects to do." Director Mao didn't dare to make a big deal.