Tue, Oct 03, 2017 - Page 12 News List

Formosa unit denies it faces NT$1.2 billion fine

By Kuo Chia-erh  /  Staff reporter

Formosa Chemicals & Fibre Corp (台化) yesterday denied a claim that it is facing a fine of NT$1.2 billion (US$39.46 million) for breaching environmental laws.

The company has met the Changhua County Government’s demand for reducing sulfur oxide emissions and did not breach any environmental laws, company vice chairman Hong Fu-yuan (洪福源) said in a statement to the Taiwan Stock Exchange.

The company has yet to receive an official notice about the issue from the county government, the statement said.

The remarks came after Changhua County Commissioner Wei Ming-ku (魏明谷) on Sunday said the county plans to fine Formosa Chemicals for unjust enrichment in violation of the Environmental Impact Assessment Act (環境影響評估法).

Formosa Chemicals has failed to keep its promise to reduce emissions and pollution since 2011, he said, adding that the company used cheaper bituminous coal with high sulfur content at its Changhua plant.

The company, a listed member of the industrial conglomerate Formosa Plastics Group (台塑集團), has been in a deadlock with the county government since last year.

The county government rejected Formosa Chemicals’ permit renewal applications for the three boilers, whose permits expired in September last year.

The rejection — which led to the shutdown of the plant — came as the company refused to resubmit its application to meet the county government’s requirements on the use of coal with high bituminous content, the Changhua County Environmental Bureau said.

The company has filed for an administrative solution for the failed license application, it said.

The company, which produces aromatics and styrenics, reported that revenue rose to NT$29.4 billion in August, an increase of 0.6 percent from July and 10.7 percent from a year earlier.

Formosa Chemicals shares slipped 0.22 percent to close at NT$91.9 on the main board yesterday.

This story has been viewed 1680 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top