FORMOSA PLASTICS BUILDS STAINLESS STEEL PLANT IN MAINLAND

AsiaInfo Services, February, 2008

AsiaInfo Services 02-21-2008 Formosa Plastics Builds Stainless Steel Plant in Mainland ZHANGZHOU, Feb 21, 2008 (SinoCast via COMTEX) -- Formosa Plastics Group (FPG) is to build a stainless steel plant in Mainland China with USD 100 million. The deal has been approved by the Taiwan economic regulator, according to whom, FPG's members Formosa Plastics Corporation and Formosa Heavy Industries Corporation will respectively invest USD 50 million in Fujian Fuxin Special Steel Co., Ltd., to be built in Zhangzhou City, southeast Fujian Province, under the guidance of Mainland China??s National Development and Reform Commission. With a total investment of USD 499 million, and a registered capital of USD 199 million, Fuxin Special Steel is to produce 720,000 tons of finished hot...

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