FPC to build CFB power plant

Taipei, July 21, 2004 (CENS)--Taiwan's petrochemical and plastics titan Formosa Plastics Corp. (FPC), a flagship of the Formosa Plastics Group, will invest NT$6 billion (US$177.51 million at US$1:NT$33.8) to set up a circulation fluidized-bed (CFB) power plant.

The CFB power plant is said to have three effects, including reduction of waste, electricity generation, and steam production.

The proposed CFB plant will be the first of its kind in Taiwan. With a designed power generation capacity of 300,000 kilowatts/hour, the proposed power plant will be able to help FPC's affiliated oil refinery reduce 700,000 metric tons of waste per year.

The CFB plant is expected to become a cash cow of the FPG as it will connect with the power grid of the state-run Taiwan Power Company,

FPC said construction of the CFB power plant is launched to cope with its environmental-protection policy. The company boasted the oil charcoal-fired CFB plant will have cost advantage over the coal-fired thermal power plant and the steam/electricity co-generation plant.