Formosa Plastics aim high in China
Taiwan’s Formosa Plastics Group is now eyeing the growing market of China for a refinery and olefins facility in Ningbo, where it is currently boosting output at a plastics complex. The group had already invested some US$2 billion in Ningbo in the construction of various petrochemical plants and has started commercial manufacture of such products as polyvinyl chloride, acrylic acid, acrylonitrile butadiene styrene, polystyrene, and epoxy resins. Formosa Plastics Corp. (FPC) has a non-integrated 400,000 ton-per-year polyvinyl chloride (PVC) site at Ningbo. (June 13, 2007)