Formosa Plastics group to invest TWD120 bln in expansion

Formosa Plastics group plans to invest TWD 120 bln in an expansion project. Most of the investment outlay will be towards the expansion plan at Formosa Petrochemical's petrochemical complex in Yunlin, central Taiwan. The investment plan includes 706.8 bln twd for domestic projects and 76.0 bln for overseas. Formosa Petrochemical Corp is entering the rubber business, and the company is also planning to increase its annual oil refining capacity by 7 mln metric tons, taking its total to 32 mln.
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