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(CNA) -- The Taiwan-based Formosa
Plastics Group (FPG) is not considering investing in a petrochemical venture in
the Gulei Development Zone in southern China's Fujian Province, a senior
executive with the group said Monday.
According to Hong Fu-yuan, president of group subsidiary Formosa
Chemicals and Fibre Corp., the conglomerate will maintain its focus on its
styrene acrylonitrile plant in Ningbo, Zejiang Province, and is not thinking
about joining a reported petrochemical venture initiated by Taiwanese investors
in Gulei.
It was reported earlier by local media that Taiwanese petrochemical
companies have sought investment destinations outside the country after a plan
to build a petrochemical complex along the coast of Changhua County was
abandoned over environmental concerns.
mrcplast.com
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