Considering the difficult situation prevailing after the Kuokuang Petrochemical Technology Co. dropped its project, Formosa Plastics Group (FPG) is likely to delay its fifth-stage expansion project for its petrochemical complex in Yunlin County's Mailiao industrial zone, in southern Taiwan, for an indefinite period.
As revealed by an FPG official, if a proposal for the fifth-stage expansion project is put forth for approval at this point in time, it may be get trapped into a political cross fire, as Presidential elections are approaching.
Moreover, FPG still needs to gain support of people residing in proximity of the project site, and hence it is very risky to present the project at this time, particularly in view of the adversities that Kuokuang project had to face.
Yunlin County government has firmly opposed the fifth-stage expansion project, in view of several incidences that jeopardized public-safety at FPG`s petrochemical complex, the sixth Taiwanese naphtha cracking complex.
As such, FPG is now inclined on prioritizing and taking further the fourth-stage expansion project, which has already cleared environmental assessment.
However, the fourth-stage project still needs to undergo environmental impact assessment. as its project has been revised as it would now include the PV poly-silicon project, which actually was a fifth-phase expansion project proposal.
In order to ensure that the revised fourth-stage expansion project is passed, the Group intends to drop some of the projects like oil refineries with high pollution traits, and introduce new projects intended at production of high value-added goods like hydrogenated rubber.
Possibilities are even there that, FPG may shift a larger part of the fifth-stage expansion project to some foreign country.
Fibre2fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
