TAIPEI: Taiwan-based petrochemical giant Formosa Petrochemical Corp has selected St. James Parish in Louisiana for a US$9.4 billion chemical manufacturing complex, the office of Louisiana Gov. John Bel Edwards announced.
Formosa has purchased a 2,400-acre site along the west bank of the Mississippi River, where the petrochemical group plans to build a chemical complex that would produce ethylene, propylene, ethylene glycol, and associated polymers.
Formosa plans to operate the complex under its subsidiary and Louisiana registered company, FG LA LLC, and is branding the site as “The Sunshine Project.”
The Sunshine Project is expected to create 1,200 new direct jobs averaging $84,500, plus benefits, while Louisiana Economic Development estimates the project also would result in 8,000 new indirect jobs, for a total of more than 9,000 jobs in the River Parishes and surrounding regions of Louisiana.
“The new Sunshine Project continues that bridge into a brighter economic future for Louisiana, one with an estimated 8,000 construction jobs at peak, even more permanent jobs upon completion, and a multibillion-dollar impact on earnings and business purchases for decades to come.
