FPG's Wang not likely to visit China

Chairman and founder of the Formosa Plastics Group (台塑集團, FPG) Wang Yung-ching (王永慶) said yesterday that currently he has no plans to visit China, and that most of the FPG investment projects around China will go on as scheduled.

Speaking at a press conference, Wang said he does not see noticeable changes in the development of cross-strait relations either from opposition Chinese Nationalist Party (KMT) Chairman Lien Chan's (連戰) made a historic trip to China or from a forthcoming visit to China by People First Party Chairman James Soong (宋楚瑜) beginning on Thursday.

Formosa Plastics has engaged in several investment projects in China, including a branch of Chang Gung Memorial Hospital (長庚醫院) opening in China.

Wang said the group plans to build thermal power plants around China and is considering tapping into China's rich reserves of coal, which are vital to the group's Mailiao Power Plant (麥寮電廠) in Yunlin County.

As for the groups Formosa Automobile Corp (台塑汽車) unit, Wang said design and planning work will remain in Taiwan while manufacturing will be relocated to China to secure competitiveness.

He said the group will continue construction of nursing home communities in Linko Township, Ilan County and Chiayi County as planned, but will not build more nursing home communities in the future.