03 October 2003 11:06 [Source: ICIS news]
LONDON (CNI)--Lucite International, the world's largest producer of methyl methacrylate (MMA), said Friday that it has an option to expand the capacity of its planned new plant in China to 150 000 tonne/year.
The 93 000 tonne/year facility at Caojing near Shanghai, which is due onstream by mid 2005, is being built at an initial cost of $100m (Euro87m), said Lucite.
UK-headquartered Lucite was unable immediately to comment on the timing or cost of any capacity expansion.
Lucite, which was granted an official business licence for the project on 25 September, said the new plant is being built to meet growing demand for acrylic-based products. It said that China is the fourth largest market for MMA with a current consumption of 200 000 tonne/year. China is now the world's fastest growing MMA market, added Lucite, with demand rising by around 10% a year.
The new plant, being built by Taiwanese contractor CTCI, will make Lucite the largest supplier of MMA in China.
Feedstock for the new plant will come from the 900 000 tonne/year cracker which is being built at Caojing by Secco, a joint venture between BP, Sinopec and Shanghai Petrochemicals Company (SPC). The cracker is on schedule for completion in the second quarter of 2005.
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