James Parish chosen for $9.4 billion Formosa ethylene plant

Lester Mason
April 24, 2018

The US$9.4 billion chemical plant that Taiwan's Formosa Petrochemical Corp.is building in the southern USA state of Louisiana could start operations as early as 2022, according to the company's chairman on Tuesday.

The industrial complex would produce ethylene, propylene, polymer and ethylene glycol that are used to make products that includes auto casings, plastic bottles, grocery bags, drainage pipes, ropes, artificial turf, polyester clothing, antifreeze and playground equipment, according to the company's website. The "Sunshine Project", as the company calls it, could begin construction in 2019 for a multi-phase building project lasting ten years. Salaries average $84,000, plus benefits. The state estimates the project creating another 8,000 construction jobs at its peak.

Formosa Petrochemical Corp. handpicked St. James Parish by purchasing a 2,400 acre site along the west bank on the Mississippi River.

The plant's production will support plastic products ranging from sports equipment and food packaging to clothing, health care and technology products, according to the news release.

To secure the project, the State of Louisiana offered a competitive incentive package that would include a $12 million performance-based grant to offset infrastructure costs.

Under the agreement, Formosa would also receive workforce training assistance from the state and payroll and industrial tax breaks.

Formosa Petrochemical is an affiliate of Formosa Plastics Group, which has three existing facilities in Louisiana, employing a total of more than 400 employees.

St. James is also the site of a almost $2 billion methanol manufacturing complex being built by Yuhuang Chemical Inc. of China.

Other reports by Iphone Fresh

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