Formosa Chemicals & Fibre and Formosa Taffeta Sell Idle Land in Mailiao for a Total of NT$556 Million

(Central News Agency reporter Tseng Jen-Kai, Taipei, 8th) Formosa Chemicals & Fibre Corp. (FCFC) and Formosa Taffeta Co. (FTC) separately announced today the disposal of idle land in Mailiao, Yunlin, to their affiliate, Mailiao Power Corporation, for a total price of NT$556 million.

FCFC announced today the disposal of 5 plots of idle land in Xucuo Liao Section, Mailiao Township, Yunlin County, to its affiliate, Mailiao Power Corporation, for a total price of NT$237 million, with an estimated disposal profit of NT$184 million.

FCFC stated that this is mainly to cooperate with Mailiao Power Corporation's land demand for setting up a solar power plant.

FTC also held a major information press conference today, announcing that to activate idle land, it plans to sell 4 plots of land in Xucuo Liao Section, Mailiao Township, Yunlin County, at NT$19,000 per ping, for a total price of NT$319 million, to its affiliate, Mailiao Power Corporation.

FTC Vice General Manager Cheng Hung-Ning stated that after deducting acquisition costs and taxes, the estimated disposal profit is approximately NT$267 million. (Editor: Huang Kuo-Lun) 1150508

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