Formosa (Plastics) Corporation -- Sixth Naphtha Cracking Project | industrial area

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In view of the long-term shortage of basic petrochemical materials in Taiwan that dampened development of the midstream and downstream petrochemical industries, Formosa Plastics Group proposed the Sixth Naphtha Cracking Project for alleviating the problem and acquired government approval in 1986. The first selection for the project site was a 280- hectare property in Lizi, Yi-Lan. Due to subsequent irrational objections of local opposition, the project was moved to Guanyin, Taoyuan in 1988, and then aborted for similar reasons.

In 1991, with blessings of both the local government and the residents, the project chose to settle down in the off-shore industrial zones in Yunlin County of Mailiao and Haifong. by way of reclamation, for building up an oil refinery plant with annual capacity of 21 million tons of crude oil, naphtha cracking plants for producing 1.35 million tons ethylene per annum, and other petrochemical plants, heavy machinery plant, a co-generation plant, and Mailiao Industrial Harbor. In addition, in view of the serious power shortage in Taiwan, which impacts greatly on people's lives as well as on businesses, a thermal power plant with a capacity of 3 million kilowatts was therefore planned; a portion of the generated power will be incorporated into the TPC Power supply system ,for assisting relief of the domestic power shortage.

Total investment of stage one and stage two of the Sixth Naphtha Cracking Project (including the industrial harbor and power plant) amounts to US$13.6 billion. Plant facilities have been successively completed for production in mid 2001. The annual output value of the fully completed facility is estimated at US$14.1 billion. Investement in the Phase Three expansion launched in 2002, estimated to be US$1.32 billion, together with investment for the fourth expansion of US$4.27 billion in 2004, the grand total of the four phases of the Sixth Naphtha Cracking Project is as high as US$19.2 billion.