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Formosa studies setting up $9.4bn ethylene Louisiana plant
07
Sep '15
Formosa Petrochemical Corp is studying the feasibility of setting up an estimated $9.4 billion industrial complex to be built in two phases producing ethylene and a host of downstream chemical products in St. James Parish, Louisiana.

According to a press release from the Governor's Office of Louisiana, a final investment decision expected by mid-2016 will determine the final capital investment figure for the project.

The project is expected to create 1,200 new direct jobs with an average annual salary of $84,500, plus benefits and would result in 8,000 new indirect jobs, for a total of 9,200 new jobs in Louisiana.

Upon completion of both phases of the project, which would be built on the west bank of the Mississippi, Formosa would have developed one of the largest, single-site ethylene production complexes in the world.

In January 2014, Louisiana Governor Bobby Jindal visited Taiwan to meet with company officials and lay the foundation for the current project.

Governor Jindal said, “This tremendous capital investment signals that the many reforms we have installed to improve Louisiana's business climate are succeeding.”

“This project also is a testament to Louisiana's ability to deliver world-class infrastructure and logistics solutions that attract the world's most important and innovative companies,” he added.

“Most important for our state; this major petrochemical investment will provide high-paying jobs for Louisiana families for generations to come,” Jindal informed.

Formosa Petrochemical Corp., a division of Taiwan based Formosa Group, would develop the project with an ethane cracker and downstream plants in the initial phase, followed by a doubling of those capacities in the second phase.

The facility would convert ethane to ethylene and then produce polyethylene, with customised outputs of low and high-density polyethylene, ethylene glycol, polypropylene and other derivatives.

Formosa Group has operated in Louisiana since 1981, with three plastics manufacturing locations in East Baton Rouge and Pointe Coupee parishes.

Formosa chairman Bao-Lang Chen said, “We believe strategic growth in petrochemicals in the future will be in the US, especially in Louisiana and it is the right and perfect location for our company's next development base.”

“With our experience, we will not only focus on the industry itself to improve economics, but also take serious consideration of environmental issues,” Chen too added.


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