MOSCOW (MRC) -- Formosa Petrochemical Corp. is studying the feasibility of building a USD9.4 bln industrial complex in St. James Parish, said Washingtontimes, citing the Governor of the State.
The project, to be built on the west bank of the Mississippi River, would be one of the largest single-site ethylene production complexes in the world and result in the creation of 1,200 new direct jobs, Formosa said in a news release. The initial phase of construction and development would begin in mid-2016, and the second phase would begin in 2022.
Formosa Petrochemical Corp. is part of the Taiwanese Formosa Group, which operates three plastics manufacturing locations in East Baton Rouge and Pointe Coupee parishes.
The initial phase of construction and development would begin in mid-2016, and the second phase would begin in 2022.
As MRC informed earlier, the US Environmental Protection Agency (EPA) has recently issued three final GHG Prevention of Significant Deterioration construction permits for the Formosa Plastics facility in Point Comfort, Texas.
Formosa is expanding its chemical complex, located near Victoria, and taking three actions with its turbines unit, olefins unit and low-density polyethylene (LDPE) unit.
Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
MRC