Taiwan's FPG plan to outlay US$8.4 bln for polysilicon, naphtha production projects

Taiwan's diversified conglomerate, Formosa Plastics Group (FPG) has reportedly charted a plan to outlay US$8.4 bln to advance development of polysilicon used in solar panels and up the production capacity of naphtha among other chemicals, Taiwan News reported. The nation's largest business group is awaiting a go-ahead from the government for the massive investment plan which promises to accelerate the production of chemicals, fuels and solar power components since the recently announced US$$819 bln economic stimulus plan by Obama administration in US could assist Taiwan's exports. However, the group has announced to abandon the construction a Western Taiwan-based steel mill planned in 2005.
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