CHINA: Formosa Plastics developing plans for petrochemical projects in Gulei

"China has a large market for petrochemical products and we need to provide raw materials for our petrochemical plants in Ningbo, China,” said an FPC official.

The proposed projects, requiring approvals from both Chinese and Taiwanese authorities, include a naphtha cracker to produce ethylene and propylene, and downstream production units using the technologies of other FPG subsidiaries.

With an anticipated investment of about $13-billion, other Taiwanese investors will be invited to participate in the Gulei projects, as well as petrochemical producers in Fujian, the official said.

Source: Weekly "PetroChemical News", Durham, NC, USA; 6 May 2013

(Syed Rashid Ali, Karachi, Pakistan)