Kuokuang Petrochemical Selects New Site for Stalled $19 Billion Project

JOHANNESBURG--June 27, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--After failing to obtain the required environmental assessment permits at the Yunlin offshore industrial zone in Taiwan, the board of directors of Kuokuang Petrochemical Technology Company Limited (Taipei, Taiwan) have decided to move the company's $19.75 billion petrochemical project to the Tacheng township of Changhua County in the central region of the country. Kuokuang Petrochemical has agreed to abide by the stricter requirements of a second-stage environmental impact assessment in order to gain the support of Tacheng residents.