Formosa Petrochemical Corp. expects faster approval for a planned US$9.4 bln petrochemical plant in the U.S. state of Louisiana under the administration of President Donald Trump. The U.S. Environmental Protection Agency (EPA) is likely to roll back some of its regulations after the appointment as head last month of Scott Pruitt, who sued the agency multiple times as Oklahoma state attorney general. The company should benefit from less stringent environmental regulations under the Trump administration, Formosa Petrochemical Chairman Chen Bao-lang said.
The petrochemical plant will be located in Louisiana's St. James Parish. The group first submitted its application to the Louisiana state government in September 2015. Formosa Petrochemical is leading the project along with another member of the group, Formosa Chemicals & Fibre Corp. The first phase of the project includes an ethane cracker with an annual capacity of 1.2 mln metric tons and 600,000 metric tons of propylene. In the second phase, slated for construction by March 2025, it will build another ethylene plant with annual capacity of 1.2 mln tons.