Taiwan's Govt approves FCFC China ABS plant
03 September 2001 01:12 [Source: ICIS news]
SINGAPORE (CNI)—Formosa Chemicals & Fibre Corp (FCFC) announced on Monday that Taiwan’s Ministry of Economic Affairs (MoEA) has approved its 250 000 tonne/year acrylonitrile-butadiene styrene (ABS) project at Ningbo in Zhejiang province. Ningbo is 300 km south of Shanghai, China.
The Chinese government has also approved the project, an FCFC source said. FCFC is to invest $49m (Euro53m) in the proposed facility, he added.
Ningbo has been chosen because it is a harbour town and therefore it is easy to move products from southern to northern China, where demand is high and supply scarce.
Feedstock for the project, which is scheduled to come onstream in 2004, will be shipped from the Formasa Plastic Group's (FPG) integrated complex at Maliao, Taiwan. FCFC is an affiliate of FPG.
FCFC was able to obtain approval for the project from Taiwan because of its cost being below $50m - the limit currently imposed by the Taiwanese government on any single investment on the mainland.
FCFC either at end-2001 or early next year will raise its ABS capacity to 360 000 tonne/year by bringing onstream a 120 000 tonne/year expansion at Maliao.
By: Iqbal Anand
+65 6780 4359
< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 3 November 2009)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
Links posted in this story:
|
|
Related Articles
- 07 Oct 02 07:01 Taiwan's FCFC delays restart of acrylo line to mid-Oct
- 09 Aug 02 02:47 Taiwan's FCFC starts 120 kt/yr ABS unit 6 months in advance
- 26 Jul 02 06:29 China's Ningbo port saw 50% rise in chem volumes in H1-2002
- 14 Dec 01 16:45 FCFC plans 500 kt/yr PTA shutdown at end-Dec '01
- 03 Dec 01 14:56 Taiwan's FCFC cuts operating rates to reduce inventory
- 27 Nov 01 16:58 Taiwan's FCFC delays commercial startup of 500 kt/yr PTA
- 23 Nov 01 18:18 Taiwan's FCFC considers shutting down one PTA line in Dec
- 16 Nov 01 09:38 Taiwan's FCFC to start up 500 k/ty PTA in December
- 30 Oct 01 10:17 Taiwan's FCFC posts 500.58% rise in Jan-Sep '01 net sales
- 28 Sep 01 10:07 Petchem 2001: Global reference price seen for ACN
- 01 Sep 01 11:59 Taiwan's FPC expects China PVC approval in Sept
- 30 Aug 01 11:17 Taiwan's FCFC H1 '01 net pft down 46% on interest expense
- 28 Aug 01 22:21 Taiwan's FPC H1 '01 net pft falls 26.1% to NT$5.1bn
- 31 Jul 01 21:19 Taiwan's FCFC to expand PC capacity to 200 kt/yr
- 01 May 01 14:24 Taiwan's FCFC to build NT$2bn textile plant in Vietnam
- 16 Mar 01 09:32 Taiwan's FCFC '00 pretax profits up 15%, but below target
- 08 Mar 01 17:30 FCFC's Feb '01 sales up 23% to NT$5.55bn
Latest News
- 01 Dec 09 04:00 China's Shanghai Coking methanol unit stays shut after fire
- 01 Dec 09 03:10 US Tronox proposes $150/tonne hike in Asia TiO2
- 01 Dec 09 01:00 In Tuesday's Asia papers
- 30 Nov 09 23:30 MOVES: US ChemLogix names chief financial officer
- 30 Nov 09 23:24 US SBR sellers ready to undercut contract price - consultant
Paul Hodges goes to the junction of Wall St and the chemical industry.
ICIS Chemicals and the Economy