No formal application yet from Kuokuang Petrochemical to invest in M’sia – Mustapa

Posted on June 11, 2012. Filed under: Environment and Livelihoods |

(Bernama) — The International Trade and Industry Ministry has not received a formal application from Taiwan’s Kuokuang Petrochemical Technology Co to invest in Malaysia, the Dewan Rakyat was told today.

Minister Datuk Seri Mustapa Mohamed said the decision for the company to invest in the country would be made by its board of directors and not the Taiwan Government eventhough the government has 43 per cent equity in the company through CPC Corporation.

“However, the board has allowed the company to conduct a feasibility study to build a petrochemical plant in Pengerang,” he said in his written reply to Hee Loy Sian (PKR-Petaling Jaya Selatan).

Hee wanted to know whether Kuokuang Petrochemical Technology Co had received approval from the Taiwan Government to invest in the RAPID project in Pengerang.

Mustapa said the proposed petrochemical project was still in the initial stage and the company was doing a study to determine the feasibility.

He said the company management had informed the ministry that the plant would be set up at another location if the feasibility study findings showed Pengerang was not a suitable location.

Mustapa said the company must conduct the environmental impact assessment study to gather the people’s feedback on the petrochemical plant before the project was approved by the Department of Environment.


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