USA: Petrochemicals Formosa Seeks Louisiana's Permission for $ 9.4 Billion Petrochemicals Project
According to Bloomberg and Downstreamtoday, Formosa Plastics Group is seeking permission from the U.S. state of Louisiana to invest $ 9.4 billion to build petrochemical plants.
St. James Parish/USA — The Taiwanese chemicals producer is waiting for the U.S. state’s authorization for construction of the facilities in St. James, Lin Keh-Yen, executive vice president of Formosa Petrochemical Corp told Bloomberg. The group would also plan another $ 5 billion investment to expand production lines in Texas, the news portal cites Formosa Plastics Corp. Chairman Jason Lin, adding that the project located in Lousiana includes an ethane cracker with annual capacity of 1.2 million metric tons and a 600,000 ton-per-year propylene plant in phase one. In the second phase, it would build another ethylene plant with capacity of 1.2 million tons a year, Lin said.