Taipei, The US$9.4 billion chemical plant that Taiwan's Formosa Petrochemical Corp. is building in the southern U.S. state of Louisiana could start operations as early as 2022, according to the company's chairman on Tuesday.
Formosa Petrochemical Chairman Chen Bao-lang (???) told reporters that the investment project is currently undergoing an environmental impact assessment, which should be completed by the end of the year.
If all goes well, the mass production of ethylene and propylene could start in 2022 or 2023, he said, in line with the company's previously stated timeline for the first phase of construction.
Construction is expected to start in 2019, after the environmental impact assessment has been approved.
The Louisiana governor's office formally announced the project, which Formosa Petrochemical has been planning for years, in a statement Monday, lauding the 970-hectare chemical complex as a huge source of jobs for the state.
Once operational, the plant, located in St. James Parish between Baton Rouge and New Orleans, is expected to provide about 1,200 permanent jobs with an average annual salary of US$84,500, the statement said.
There will also be as many as 8,000 jobs created in construction and other related tasks, according to the statement.
The chemical complex will use natural gas and make ethylene, propylene, ethylene glycol and associated polymers that are used in many plastic products.
Source: Focus Taiwan News Channel