Taipei,Dec.7,2012(CENS)--After being deferred for over one year,a high value-added petrochemical investment project of Formosa Plastics Group(FPG)is finally ready for implementation,as the Petitions and Appeals Committee of the Executive Yuan(the Cabinet)revoked yesterday(Dec.6)the resolution of the Environmental Protection Administration(EPA)to include five VOCs(volatile organic compounds)emission sources into the total emission quota of the petrochemical complex of FPG in Mailiao offshore industrial zone,as a condition for its approval of the project.
In response to the government's policy of developing high value-added petrochemical industry,Formosa Petrochemical,a member of FPG,announced last year cooperation with Kraton,the world's largest styrene rubber manufacturer,to jointly invest NT$5.2 billion for production of high-end rubber in Mailiao industrial zone.
The EPA approved the project on July 25 this year,which,though,was attached with the aforementioned condition.The inclusion of the five emission sources,including burning tower,paint coating,cooling tower,cleaning of storage tank,and annual maintenance,will boost the VOCs emission of the FPG's petrochemical complex,dubbed as the sixth naphtha cracking complex,over the official quota,forcing FPG to cut its output of the entire complex.As a result,FPG appealed the case to the Executive Yuan.
Chen Pao-lang,president of Formosa Petrochemical,expressed appreciation of the decision of the Executive Yuan,saying it boosts his trust in the government's determination in pushing the development of the high value-added petrochemical industry.Industry insiders said that the outcome will greatly encourage other enterprises to invest in high value-added petrochemical industry,whose investment value may top NT$40 billion in 2013.