TAIPEI, Taiwan — The Kuokuang Petrochemical Park investment project will be scaled down to increase the chances of it passing an environmental impact assessment, the project’s largest shareholder, CPC Corporation, Taiwan, said yesterday.
According to a preliminary plan, the investment volume will be cut down from more than NT$900 billion (US$30.87 billion) to NT$600.5 billion, said CPC Chairman Chu Shao-hua at the Legislative Yuan.
Also, he continued, planned oil refinery output will be decreased from 450,000 barrels to 300,000 barrels per day, while planned ethylene output will be reduced from 2.4 million tons to 1.2 million tons per year.
The number of factories in the park will be lowered from 41 to 25, with the total area decreased from 2,600 hectares to 1,900 hectares, Chu said.
According to Chu, CPC will invest NT$250 billion in the project, accounting for 43 percent of the total investment.
The outcome of the environmental impact assessment is expected to be released in late February or early March, he added.
The project, to be conducted through the Kuokuang Petrochemical Technology Co., involves building the country’s eighth naphtha cracker in Changhua County’s coastal Dacheng Township.
Environmentalists and residents of the area have expressed strong opposition to the plan, arguing that the facility will cause irreversible damage to local flora and fauna and endanger marine life in what is already a fragile ecosystem.