Finland's Chempolis to jointly build €30m biorefinery in China

24 January 2011 08:35  [Source: ICIS news]

SINGAPORE (ICIS)--Finnish biochemicals producer Chempolis said on Monday it has signed an agreement with paper maker Henan Yinge Industrial Investment to jointly build a 160,000 tonne/year biorefinery in China’s Henan province.

The biorefinery would be built with a planned capital of €30m ($41m), with Yinge investing €22.5m and Chempolis investing the remaining the €7.5m, the Finnish company said in a statement.

It would produce non-wood papermaking fibres and biochemicals using wheat straw as raw material, the statement added.

The statement did not provide details on the start date for construction or when the biorefinery was expected to come on stream.

Chempolis could not be immediately reached for comment.

($1 = €0.73)

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By: Nurluqman Suratman

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