Subject: Taiwan slams brake on $25b petrochemical project - ST
From: "Michael Andrews" <[email-masked]>
To: "Thad Brown" <[email-masked]>, "Chris Heinz" <[email-masked]>, "Ronnie Mainieri" <[email-masked]>, "Hunter Biden" <[email-masked]>, "Eric Schwerin" <[email-masked]>, "Curt Hastings" <[email-masked]>, "Devon Archer" <[email-masked]>
Date: Fri, 22 Apr 2011 11:45:10 -0400

Apr 22, 2011
Taiwan slams brake on $25b petrochemical project

President Ma Ying-jeou told reporters: 'We will not support the  
project to go on in Changhua county. It is a difficult decision.' --  
PHOTO: AFP

TAIPEI - A CONTROVERSIAL giant petrochemical project in Taiwan is  
expected to be abandoned after the island's leader voiced his  
opposition on environmental grounds, officials said on Friday.

Kuokuang Petrochemical Technology Co had planned to build a refinery  
and more than 20 related petrochemical plants costing about Tw$600  
billion (S$25 billion) on 2,800 hectares of coastal land in western  
Taiwan.

But President Ma Ying-jeou told reporters: 'We will not support the  
project to go on in Changhua county. It is a difficult decision.

'We need to resolve the conflicts between economic developments and  
environmental protection to find a balance,' he said.

Mr Ma's decision effectively put an end to the project as his  
government is Kuokuang Petrochemical's largest shareholder through  
state oil company CPC Corporation, economic ministry officials said.

The complex has been under consideration since the 1990s but has had  
its location changed several times due to strong objections from local  
residents and environmentalists. -- A