Formosa Plastics plans Taiwan refinery

TAIPEI, Dec. 21 - Formosa Plastics Corp. (FPC) plans to spend $3.72 billion to build a 600,000-b/d refinery in Yunlin County, Taiwan. The site is 2,000 hectares of reclaimed land adjacent to parent Formosa Plastics Group's (FPG) Mailiao Petrochemical Zone.

The new refinery will increase FPG's refining capacity to 1 million b/d and make the group Taiwan's largest supplier of oil products.

The prime contractor for the project will be FPG unit Formosa Heavy Industries Corp.

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