Formosa to increase capacity at Point Comfort, Texas

Formosa Plastics plans to invest US$2.1 bln to expand existing facilities in the United States. The plan will see the annual ethylene capacity at its unit in Point Comfort, Texas, increase 28% to 2.07 mln tons and propylene capacity by 54% to 1.14 mln tons. The investment awaits final nod from the US government. The expansion project is aimed at using richer and cheaper natural gas resources in the United States and could be completed by late 2014, the Economic Daily News reported.
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