Formosa Petrochemical Co., Ltd. and Louisiana Governor Edwards jointly announced the start of the petrochemical park project on the 24th in the United States. The case covers an area of 970 hectares in St. James Parish, with a total investment of 9.4 billion U.S. dollars. In 2024 put into production ethylene, propylene.
According to the Associated Press, the Luzhou government stated that the case will create 1,200 jobs, with an average annual salary of 84,500 U.S. dollars. During the construction of the factory, the demand for related work will increase to 8,000, and the plan is still waiting for the relevant regulatory authorities. Approved. The report pointed out that it is expected that the EIA will be completed before the end of the year. The first phase will be put into production of ethylene and propylene from 2022 to 2024. It will mainly supply the U.S. market and then gradually expand to North America, South America and Europe.
When the plan is approved by the authorities, Formosa Plastics will enjoy the tax concession. The Luzhou government provides a 5-year land price tax, and the next 3 years will be exempted from the 80% tax. Formosa Plastics pointed out that the case was The Group’s largest overseas investment case in recent years is also the first time that Formosa Plastics has extended its production base to the United States, which will further improve the Group’s global distribution.