08 June 2011 06:52 [Source: ICIS news]
GUANGZHOU (ICIS)--China’s Lanfeng Bio-Chemical plans to invest yuan (CNY) 800m ($123m) to build a chemical intermediates facility at Zhongwei in northwest Ningxia, the company said in a statement on Wednesday.
Lanfeng signed the investment agreement with the Zhongwei authorities on 31 May for the project to start construction in August, the statement said.
The project will be built in two phases, with Lanfeng investing CNY450m in the first phase and CNY350m in the second, according to the statement.
The first phase will consist of a 10,000 tonne/year 1,2-diaminobenzene unit and a 5,000 tonne/year 3,4-dichloroaniline unit, which Lanfeng plans to start running in August 2012.
The second phase includes a 10,000 tonne/year 1,2-diaminobenzene plant and other chemical intermediates units, which are expected to come on stream in October 2013, the statement said. Details of the other chemical intermediates units were not disclosed.
Lanfeng is headquartered at Xinyi city in Jiangsu. It produces pesticides, bactericides, herbicides and chemical intermediates, according to its website.
($1 = CNY6.48)
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