24 February 2005 02:45 [Source: ICIS news]
CNI's sister publication Asian Chemical News (ACN) was earlier told by the local partner, Elion Resources, that the project would start up in 2006. Huayi and Elion have formed a 48:52 joint-venture company called Yili Chemical for the project.
However, the source said that the 2006 timeframe was not achievable as the partners were still seeking quotes from contractors.
CNI understands that some staff from Shanghai Chlor-Alkali & Chemical (SCAC), which is partly owned by Huayi, will manage the project because of their company's experience with PVC production.
In addition to 400 000 tonne/year of PVC, the project will also produce 360 000 tonne/year of caustic soda. The project has been approved by the Chinese government.
The source added that the project also included the construction of a power plant. As a result, the plant will not be affected by potential electricity price hikes in
The Chinese government raised electricity prices in
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