FPG to import 5,000 foreign workers for expansion of naphtha cracking facilities

Taipei, Dec. 25, 2003 (CENS)--As the government has conditionally allowed domestic construction industry to employ foreign workers, Formosa Plastics Group (FPG) recently has resolved to import 5,000-extra foreign workers to speed up construction of the fourth-stage expansion at its sixth naphtha cracking facilities located in Mailiao of Yunlin County, southern Taiwan.

The expansion project is scheduled to be launched in April next year. In the past, there were 20,000-some foreign workers simultaneously sweating on the construction sites while the group was making first-, second-, and third-stage expansion projects on the Yunlin facilities a few years ago. The group said it would be able to import the needed 5,000-odd foreign workers within three months if the government allows it to import these workers as a special application case.

FPG will set aside NT$124.6 billion (US$3.66 billion at US$1:NT$34) to complete the construction of the fourth-stage expansion project in a period of two years. The entire project will need a work force of over 19,000.

Investments of the expansion project will be made by FPG's five affiliates, including Formosa Plastics Corp. (NT$6.4 billion or US$188.23 million), Nan Ya Plastics Corp. (NT$14.5 billion or US$426.47 million), Formosa Chemicals & Fiber Corp. (NT$33 billion or US$970.58 million)), Formosa Petroleum Corp. (NT$48.7 billion or US$1.43 billion), and Formosa Plasma Display Corp. (NT$22 billion or US$647.05 million).

FPG estimated the expansion project, after completion, will help these above-mentioned affiliates create additional annual production value by NT$235.1 billion (US$6.914 billion) in total. The total additional production value will be NT$8.6 billion (US$252.94 million), NT$56.6 billion (US$1.66 billion), NT$62.3 billion (US$1.83 billion), NT$76.3 billion (US$2.24 billion), and NT$31.3 billion (US$920 million), for these affiliates, respectively, in order.

The plastics conglomerate said the expansion project will help domestic up- and down-stream industries generate NT$444.1 billion (US$13.06 billion) in annual production value.

During the construction period, the expansion project will create 80,000-odd job opportunities nationwide. After the project is completed, the plant site of the sixth naphtha cracking facilities will need another 1,181 workers, generating 166,000 more job opportunities for related up- and down-stream industries nationwide.