Japan's MRC gives China acrylic fibre project study to SDPC

29 November 2001 08:10  [Source: ICIS news]

SINGAPORE (CNI)--Japan's Mitsubishi Rayon Co (MRC) is awaiting approval or otherwise from China's State Development Planning Commission (SDPC) for its 50 000 tonne/year joint venture acrylic fibre project in Ningbo, Zhejiang province, China.

The Japanese major has submitted its feasibility study to the SDPC and is bullish over the prospect of winning the go-ahead. MRC hopes to start construction in 2002 with the plant scheduled for commissioning in 2004.

If approval is granted, MRC will identify its joint venture partners. They are expected to include several Japanese trading companies and a Chinese company. MRC is expected to take a minimum stake of 50% in the venture.

Meanwhile, MRC has confirmed it is pressing ahead with plans for two methyl methacrylate monomer (MMA) plants - one in Texas in the US and the other in China at a site which has yet to be decided.

The spokesman said initial plans for both projects have been completed and that management is keen to press on with both plants, although it is watching the market in the US carefully following 11 September.

MRC has opened negotiations with a potential Chinese partner for the 100 000 tonne/year MMA project.

The proposed US plant would have a capacity of 150 000 tonne/year.

MRC is hoping to bring both projects onstream in 2005.

By: Staff Reporter
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