Corrected: Golden Hope in China MES joint venture

19 October 2006 10:43  [Source: ICIS news]

Correction: In the ICIS news story headlined "Golden Hope invests CNY38.9m in MES joint venture" dated 16 October, 2006, in the second paragraph the company has clarified that the name of the joint venture is Guangzhou Keylink Chemical instead of Guangzhou Jin Qi Ning Chemical. A corrected story follows.

SINGAPORE (ICIS news)--Golden Hope Plantations will invest CNY38.9m (€4m/$5m) to establish a joint venture company to carry on the business of manufacturing, distributing and selling methyl ester sulphonate (MES).

The joint venture company, together with Hong Kong’s Cognis Oleochemicals and China’s Lonkey Industrial, is to be named Guangzhou Keylink Chemical.

The company will be held 36% by Golden Hope, 49% by Lonkey and 15% by Cognis.

Golden Hope hopes to strengthen its biodiesel business through the joint venture project by gaining complimentary revenue from the sale of C16 methyl ester for MES and others for biodiesel.

It is also to capitalise on the potential of MES as a replacement for linear alkylbenzene sulphonate (LAS) in the detergent industry.

ICIS news had earlier reported that Golden Hope had joined a number of joint ventures aimed at setting up plants to fulfill its target of producing 550,000 tonnes/year of biodiesel by mid-2008.

By: Gina Myung
+65 6780 4359

< previous article(ICIS Chemical Business podcast November 2, 2009)

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