Teijin postpones Y11bn Zhejiang PC project

01 July 2008 14:16  [Source: ICIS news]

TOKYO (ICIS news)--Teijin Chemicals has decided to postpone its planned yen (Y) 11bn ($104m) project to increase the capacity of the polycarbonate (PC) plant in Zhejiang, China, due to a change in the operating environment surrounding PC, a spokesman from its parent Teijin said on Tuesday.

The Japanese chemical producer was yet to set new dates for the construction of the new line and its start-up, he said.

Teijin Chemicals announced in December 2006 that it would increase the capacity of the PC plant by building a new 60,000 tonnes/year third line, which was expected to come on line by March 2009.

The company had decided to postpone the project partly due to the elevated costs of crude oil as well as market related circumstances and strategic reasons, the spokesman said, but did not say when the company had reached the decision. 

The planned capacity of the new line would not change, he added.

The PC plant in Zheijiang currently consists of two lines with capacities of 50,000 tonnes/year each.

Meanwhile, Teijin Chemicals said in June it planned to increase the capacity of PC compounds in Shanghai to 102,000 tonnes/year for Y900m.

($1=Y106)

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By: Tomomi Yokomura
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