Formosa Ha Tinh Steel Fined US$ 0.5 Billion Penalty for Discharging Toxic Waste Water

The Vietnamese government said that Taiwanese Formosa Ha Tinh Steel Corporation must be responsible for the death of a shoal of fish and the water pollution in its central coast due to its illegal discharging of toxic waste water this April. Formosa Ha Tinh has agreed to pay the US$0.5 billion penalty. According to Reuters, Formosa Ha Tinh has confessed that it is responsible for the death of a shoal of fish in the central coast of Vietnam, which has also aroused the anger and protest of local residents. One Vietnamese official said that Formosa Ha Tinh proposed to pay US$ 0.5 billion as the compensation. Nikkei Asian Review reported that this should be the highest penalty Vietnamese government has fined to a single company.