Bluestar shelves China ECH for glycerine study

06 December 2007 06:17  [Source: ICIS news]

SINGAPORE (ICIS news)--Bluestar New Chemical Materials said on Thursday it has shelved its epicholohydrin (ECH) project in eastern China as it was studying another technology that uses glycerine feedstock instead of propylene.

Around yuan (CNY) 41.6m ($5.6m) raised for the project would be temporarily diverted to the company’s cash flow as the study would take some time, it said in a statement to the Shanghai stock exchange.

The company had planned to start up a 30,000 tonne/year ECH plant in Yancheng, Jiangsu province, at end-2007, but the conventional propylene-based technology could no longer compete with the newer method of using glycerine, it added.

However, the change will not affect Bluestar’s other 90,000 tonne/year bisphenol-A (BPA) project in Nantong, Jiangsu province, which was on schedule to start up at end-2007 or in early 2008.

($1=CNY7.39)

By: Florence Tan
+65 6780 4359

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