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(Plastemart) -- Formosa Plastic
Corp. (FPC) plans to invest in petrochemicals and shale gas exploration through
its overseas subsidiary FPC USA, to raise deployment in the U.S., as per CENS.
Mature and commercialization of low-cost shale gas exploration technologies will
enable FPC USA to boost production capacity of ethylene and propylene.
Investment outlay is estimated at US$400 mln to build a 400,000 tpa ethylene
plant.
FPC holds 22.6% stake in FPC USA, which owns 300 natural-gas wells and
will expand annual capacities of ethylene and propylene by 2.1 mln tons and 1.15
mln tons, respectively by the end of 2013.
mrcplast.com
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