Home / Knowledge / News / Textiles / CPC backs off from controversial Kuokuang project
CPC backs off from controversial Kuokuang project
27
Apr '11
Chen Bao-lang, Chairman of the Kuokuang Petrochemical Technology Co. informed legislators that, his firm is set to officially call back the application for assessment of ecological effects of its plan of constructing a naphtha cracker plant in Changhua County, which apparently means an end of the project.

The state-run CPC Corp., during a Board Meeting on April 27, would request the Environmental Protection Administration to cancel its application for environmental assessment. Besides, CPC would also discuss future prospects of the petrochemical firm with other private shareholders, during the meeting.

As revealed by Chen during a parliamentary hearing, CPC Corp. is the sole largest shareholder of the Kuokuang project, holding around 43 percent stock.

The private shareholders, who jointly hold majority shares in the Kuokuang project, have power to compel Kuokuang to keep the project going, but there are meagre possibilities, as President Ma Ying-jeou has also turned down the project.

Around NT$900 billion has already been invested in the project by now, with NT$630 billion in the first phase in Changhua and the rest for construction of the second phase.

According to an expert, after closure of the Taiwan's Kaohsiung based fifth naphtha cracker plant, CPC Corp. would increase ethylene imports, to meet the shortfall of over 300,000 tons of the vital raw material.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th Mar 2017

'Increase in demand for organic designer linen'

There has been an increase in the demand for organic designer linen....

Apparel/Garments | On 29th Mar 2017

Jo-Ann launches 'Buy Online, Pick Up in Store' service

Jo-Ann Fabric and Craft Stores, a specialty retailer of crafts and...

Courtesy: Pratibha Syntex

Textiles | On 29th Mar 2017

Pratibha Syntex wins C&A's Best Global Supplier Award

Pratibha Syntex, a leading manufacturer and exporter of knitted...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search