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Formosa Plastics Corp., San Antonio Bay Estuarine Waterkeeper and Calhoun County resident Diane Wilson reached the settlement on Tuesday, according to a U.S. District Court filing in Victoria.

Company officials reported that the $50 million would go to the newly formed Matagorda Bay Mitigation Trust to promote environmental sustainability in the region. Some of those projects include working with the Matagorda Bay Fishing Cooperative to restore marine ecosystems, environmental restoration work Green Lake Park in Calhoun County, YMCA youth camps, beach restoration and funding the Mission-Aransas National Estuarine Research Reserve’s “Nurdle Patrol” to find and remove plastic pellets known as nurdles along area waterways.