Taiwan-based Formosa Chemicals & Fibre Corp., a petrochemical production company, has announced that it will invest $1.03 billion to set up a solar-grade poly-Si factory in central Taiwan, according to a Chinese-language Economic Daily News (EDN) report.
The factory will eventually have an annual capacity of 8000 metric tons. First-phase establishment of 4000 metric tons is expected to be to be completed in 2012..
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Formosa Chemicals & Fiber was established in 1965 to meet the rising demand in fiber and plastic products in Taiwan. Since then, the company, primarily engaged in petrochemical production, has expanded into an industry giant, dealing with specialty chemicals, plastics, textiles, nylon, engineering, and construction of industrial parks throughout the country. Formosa also generates electricity and provides water treatment services.