A Huge Power Play On The Mainland

Wang Yung-ching wants to build an energy plant in Fujian

He is the patriarch of Taiwanese business, the canny tycoon who has prospered through five decades of relentless dealmaking and calculated risks. Now, at 80, Formosa Plastics Group Chairman Wang Yung-ching wants to take the biggest risk of all: building a $3.2 billion power plant in China's Fujian province. As the largest single investment by a Taiwanese company in China, the project is setting off fireworks in Taipei where officials fear other large companies will follow Wang's lead. But that doesn't bother Wang, who is relentlessly lobbying policymakers to sign off on his large investment. "The government should approve this deal," Wang told BUSINESS WEEK in an interview (box). "I'll do what I can to convince them."

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