Formosa Plastics Group units to raise investments in Louisiana

Focus Taiwan
Date: 2019/03/12
By: Wei Shu and Frances Huan 

Taipei, March 12 (CNA) Three of Formosa Plastics Group’s major subsidiaries have decided to increase their investments in the U.S. state of Louisiana by US$150 million.

Led by Formosa Petrochemical Corp., they will build a naphtha cracking complex to produce a wide range of upstream petrochemical products such as ethylene, propylene and high density polyethylene.

Under the plan, Formosa Petrochemical will increase its investment in Louisiana by US$85.50 million to about US$211 million; Formosa Chemicals & Fibre Corp. will put in another US$45 million to bring its outlay to US$111 million; and Nan Ya Plastics will raise its spending by US$15 million to about US$37 million.

The three FPG subsidiaries have set up an entity called FP Inc., which will manage their investments in Louisiana, pending approval of the plan by their boards on March 20.

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