Taiwan-based Formosa Petrochemical Corp. is considering building a $9.4 billion ethylene and downstream chemicals complex in Louisiana’s St. James Parish. Louisiana Economic Development said in a press release Formosa had launched a feasibility study and would make a final investment decision in mid-2016. Formosa would build an ethane cracker and downstream plants in the first phase and then double those capacities in the second phase.
Construction on the first phase would begin next year and Formosa would begin hiring personnel in 2018. The project would create 1,200 new direct jobs and 8,000 new indirect jobs in Louisiana.
MORE DOWNSTREAM NEWS: Chinese firm buys land for Louisiana methanol plant
