Interview: Formosa sees faster ok for U.S. petrochemical plant under new EPA chief

Formosa Chemicals and Fibre

01/03/2017 07:29

TAIPEI, March 1 (Reuters) - Formosa Petrochemical Corp. 
 6505.TW  expects faster approval for a planned $9.4 billion 
petrochemical plant in the U.S. state of Louisiana under the 
administration of President Donald Trump, the company's chairman 
said on Wednesday.  
    The appointment last month of Scott Pruitt to head the U.S. 
Environmental Protection Agency (EPA) has been welcomed by many 
Republican lawmakers who blame the agency for federal overreach 
and killing jobs in the coal and other industries, but has 
raised concerns among environmental advocates.  urn:newsml:reuters.com:*:nL8N1G64V8 
    Asked about the impact of the new EPA appointment, Formosa 
Petrochemical chairman Chen Bao-lang said he expects the group 
will benefit from less stringent environmental regulations 
undera Trump administration. 
    "We are more optimistic about the investment," Chen told 
Reuters in an interview. "At least the obstacles will be 
fewer... We're aiming to get an air permit in August 2018." 
    Formosa Petrochemical is part of Taiwanese conglomerate 
Formosa Plastics Group. 
    Another Formosa subsidiary, Formosa Ha Tinh Steel, paid $500 
million in damages in Vietnam after it admitted last year that 
it polluted more than 200 km (125 miles) of coastline in April, 
killing more than 100 tonnes of fish and devastating the 
environment, jobs and economies of four provinces.  urn:newsml:reuters.com:*:nL4N1FG3HN 
      
 
 (Reporting by Faith Hung; Editing by Richard Pullin) 
 ((faith.hung@thomsonreuters.com; 8862 2500 4893; Reuters 
Messaging: faith.hung.thomsonreuters.com@thomsonreuters.net)) 
 
Keywords: FPCC INVESTMENT/