Formosa Plastics Scales Down China Investment

Formosa Plastics Group (Taipei) has scaled down a previously announced multibillion-dollar investment project in mainland China, CW has learned (p. 33). Formosa Plastics Corp. (FPC), the parent of Formosa Plastics Group, has dropped plans to build a second polyvinyl chloride (PVC) unit at the company’s Ningbo, China petrochemicals site, C.T. Lee, group board member and FPC chairman, tells CW. Mailiao: Formosa Plastics’ vast 6th naphtha cracker complex. The company’s existing PVC plant at Ningbo is nonintegrated and has capacity for 400,000...

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