It is reported that Taiwan's Formosa Plastics Group plans to invest TWD 650 billion in three major petrochemical and steel projects at home as well as overseas in 2010. These include:

1. The fifth phase expansion of it's naphtha cracking complex at Maoliao Offshore Industrial Zone in Yunlin County at an investment of TWD 280 billion

2. A major steel refinery in Vietnam at TWD 280 billion

3. A stainless steel plant in Xiamen in China at TWD 90 billion

Uncertainty shrouds the groundbreaking of the fifth phase expansion of the Mailiao naphtha cracking complex, since its environmental impact statement is still undergoing the review by Environmental Protection Administration, under the Executive Yuan.

The company anticipates a healthy outlook in 2010 in terms of revenue and profit, mainly due to lower than expected capacity run rate for petrochemical plants in the Middle East caused by insufficient supply of natural gas, and the shutdown of many major naphtha cracking plants in Asia for maintenance scheduled in H1 2010, which will bolster prices of petrochemical materials, including polyethylene, polypropylene and polyvinylchloride.

(Sourced from www.plastemart.com)