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Taiwan's Formosa Seeks U.S. Permit for $9.4 Billion Investment

  • Formosa Plastics Group to build petchem plants in Louisiana
  • Group’s $5 billion plant expansion in Texas is underway

Formosa Plastics Group is seeking permission from the U.S. state of Louisiana to invest $9.4 billion to build petrochemical plants.

The Taiwanese chemicals producer is waiting for the U.S. state’s authorization for construction of the facilities in St. James, according to Lin Keh-Yen, executive vice president of Formosa Petrochemical Corp. The group also plans another $5 billion investment to expand production lines in Texas, Formosa Plastics Corp. Chairman Jason Lin said by phone.