Formosa Plastics plans to build US ethylene plant - reports

29 July 2011 20:59  [Source: ICIS news]

HOUSTON (ICIS)--Formosa Plastics plans to build a third ethylene plant at its complex in Port Comfort, Texas, reports said on Friday.

The plant would have a capacity of 800,000 tonnes/year and cost more than $1.5bn (€1.1bn), according to China Economic News Service (CENS), a publication based in Taiwan. The project could be approved by 2012, and Formosa should complete the project by 2015.

CENS attributed the information to Li Chih-tsun, chairman of Formosa Plastics.

Formosa Plastics did not return calls seeking comment.

In April, however, Formosa had stressed that any talk about expansion was still in the planning stage.

The  company had not finalised any definitive plans or made any decisions, Formosa Plastics said in April.

($1= €0.70)

For more on ethylene visit ICIS chemical intelligence

By: Al Greenwood
+1 713 525 2645

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