NewsSSESSMENTS: Formosa Halts Construction Of New EG Plant

Formosa Plastics USA, a subsidiary of Formosa Plastics Group has halted the construction of a new ethylene glycol (EG) plant in Point Comfort, Texas, in March, market sources told SSESSMENTS.COM. The new plant, which will have a nameplate capacity of 800,000 tons/year, was initially expected to come online in the third quarter of 2020. The new plant will be owned by Nan Ya Plastics, another division of Formosa Plastics Group. Nan Ya Plastics also owns an existing 370,000 tons/year glycols unit in the same complex. It remains unclear when the construction will be resumed.