Taiwan’s Far Eastern Group eyes petrochemical plants in USA to benefit from cheap shale gas reserves

19-Apr-13

Taiwanese conglomerate Far Eastern Group is eyeing the development of petrochemical plants in the United States, fuelled by cheap energy as the US exploits its shale gas reserves, as reported by South China Morning Post. The Taiwanese major plans to invest in plants to produce paraxylene (PX) and purified terephthalic acid (PTA). Three years ago, the firm announced plans to spend NT$20 bln (HK$5.2 bln) to double the capacity of its PTA plants in Taoyuan, in northern Taiwan, and in Shanghai, which would make it the second-biggest PTA manufacturer in Asia.