04 June 2004 08:16 [Source: ICIS news]
SINGAPORE (CNI)--China's Yangzi Petrochemical and Jiangsu GPRO Chemical have formed a joint venture for a 200 000 tonne/year styrene butadiene rubber (SBR) project to be built in the Nanjing Chemical Industry Park, Jiangsu.
A GPRO source said Yangzi will take a stake of 60% in the venture, while GPRO Chemical will take the remaining 40%.
GPRO originally proposed the project, which is to be built in two phases. In the first phase, the companies will build a 100 000 tonne/year emulsion-SBR unit using local technology. They plan to start construction work on this proposed plant in August this year, with start-up in March 2006.
The second phase will involve the construction of a 100 000 tonne/year solution-SBR unit using foreign technology. The startup date will depend on market conditions, said the source.
Yangzi Petrochemical will provide butadiene feedstock for the project, he added.
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