24 June 1996 00:00 [Source: ACN]
ICI will invest US$1bn in China through projects now underway, group director Bob Margetts said last week at the opening of ICI Polyurethanes' first formulated polyol blending plant in China at Minhang, near Shanghai.
The major part of the investment will be made through its 100 000 tonne/year MDI facility planned in Shanghai. The US$400m plant, expected to start operations around 2000, is likely to represent a total investment of up to US$600m with infrastructure and other costs, an ICI spokesman told ACN.
The US$10m Minhang polyol blending unit is the largest in Asia Pacific, and ICI's biggest worldwide.
Other ICI investments underway in China include the Tioxide titanium dioxide joint venture in Chongqing, and ICI Paints' second facility, which is planned to produce waterborne decorative paints near Shanghai.
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