Taiwan's Formosa to invest $88 million in US

According to Taiwan’s local media sources, Taiwan’s largest industrial producer Formosa Plastics is planning an expansion project in the US.

Accordingly, the company’s wholly-owned subsidiary FG Inc. will reportedly be funded $88 million to build a new ethylene cracker in Louisiana.

The new cracker’s construction is expected to start in 2020 and start production two years upon its completion.

The cracker will reportedly produce 2.4 million tons/year of ethylene.

Earlier this year the Taiwanese company revealed its $9.4 billion project which reportedly included a 1.2 million tons/year of ethane cracker and a 600,000 tons/year of propylene plant in Louisiana.