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Formosa to invest in petrochemistry and shale gas exploration

September 30/2011

(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.

Tags:propylene, ethylene, Formosa.
Category:General News
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