Home / Knowledge / News / Textiles / Kuokuang effect - Another firm puts on hold naphtha cracker project
Kuokuang effect - Another firm puts on hold naphtha cracker project
30
Apr '11
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

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search