Home / Knowledge / News / Textiles / Formosa studies setting up $9.4bn ethylene Louisiana plant
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.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search