FORMOSA PLASTICS TO PUT USD100MN INTO MAINLAND STEEL PROJECT
AsiaInfo Services, January, 2008
AsiaInfo Services 01-04-2008 Formosa Plastics to Put USD100mn into Mainland Steel Project ZHANGZHOU, Jan 04, 2008 (SinoCast via COMTEX) -- Diversified-investment Formosa Plastics Group plans to foray into the steelmaking industry of Mainland China. Formosa Plastics is weighing to put USD 100 million into a stainless steel project in Zhangzhou City, Fujian Province, including respectively USD 50 million from its affiliated Formosa Plastics Corporation and Formosa Heavy Industries Corporation (FHI), revealed a spokesman of the Investment Commission of Taiwan Government's Ministry of Economic Affairs. FHI has been making large-sized equipment for steelmakers and petrochemical companies, which can be used by the project, currently pending approval from regulators of both...
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