Formosa Petrochemical announces study for $9.4 billion complex in St. James Parish
ST. JAMES PARISH, La. – Formosa Petrochemical Corp. Chairman Bao-Lang Chen announced the company is studying the feasibility of an estimated $9.4 billion industrial complex in St. James Parish, where the company would build two project phases producing ethylene and a host of downstream chemical products.
A final investment decision expected by mid-2016 will determine the final capital investment figure for the project, in which Formosa would create 1,200 new direct jobs with an average annual salary of $84,500, plus benefits. Louisiana Economic Development estimates the project also would result in 8,000 new indirect jobs, for a total of 9,200 new jobs in Louisiana.
Source: Louisiana Economic Development