05 September 1994 00:00 [Source: ICB]
Shanghai Petrochemical Co (SPC) has set up three downstream jvs with foreign partners, involving a $37.13m investment. All three involve Japanese firms, reflecting its interest in this market.
The first, with partners Iwatani International Corp and Iwatani Gas, produces food-grade CO2 and sharp cutting gas. SPC's affiliate Shanghai Jindong Petrochemical Industrial is participating in the jv, called Shanghai Petrochem-Iwatani Gases Development. Of the total $7.43m investment, SPC is contributing $1.436m for a 40% stake.
Shanghai Jin Shan Yamatake Control Instrument involves, SPC, Sichuan Instrument Factory and Yamatake Honeywell of Japan. Of the $700 000 investment, SPC is investing $175 000 for a 35% stake.
Jin Pu Plastic Material, producing BOPP film and a range of PP products, involves Japan's Itocho Corp, Shanghai No 2 Packaging Material Plant, Shanghai Packaging Material and SPC. Of the total $29m investment, SPC is investing $4.64m for a 40% stake.
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