China’s East Hope to invest $586m in Inner Mongolia PVC project

03 February 2010 08:39  [Source: ICIS news]

SHANGHAI (ICIS news)--China's East Hope plans to invest a total of yuan (CNY) 4bn ($585.65m) in a polyvinyl chloride (PVC) complex in northern Inner Mongolia province, a company source said on Wednesday.

The project would include a 600,000 tonne/year calcium carbide plant, a 400,000 tonne/year PVC unit and a 320,000 tonne/year caustic soda facility, the source said.

"We are discussing with the local government about the project investment. It is the company’s development strategy in chemical sector but many details have not been finalised yet," the source said.

"The whole project is expected to come on stream by 2012, so we hope we could kick off construction as soon as possible," the source added but declined to give the exact date for the start of construction.

The company is also building a PVC integrated complex in southwestern Chongqing.

East Hope, which has its headquarters at Shanghai, is a conglomerate with businesses in feedstuff, heavy industry and chemicals.

($1 = CNY6.83)

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By: Judith Wang
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