08 June 2011 08:11 [Source: ICIS news]
SHANGHAI (ICIS)--Belgium’s Solvay said on Wednesday that it will invest €?xml:namespace>
Solvay concluded the agreement with China’s soda ash producer, Tianjin Soda Ash Plant.
The plant has a soda ash capacity of 800,000 tonnes/year and related products such as bicarbonate and 800,000 tonnes/year of ammonium chloride. It is in the start-up phase and will be fully operational by the middle of this year, Solvay said.
Solvay plans to commercialise 220,000 tonnes/year of soda ash and 30,000 tonnes/year of bicarbonate under its own brand name.
It will provide guarantees on loans, bringing the total committed and invested amount to almost €
"This investment will give Solvay a new access to the very large Chinese market and will enable Solvay to bring its knowhow as one of the world's longest standing soda ash producers to this fast growing country," said Vincent De Cuyper, group general manager of Solvay’s chemicals sector.
Tianjin Soda Ash Plant is one of the oldest chemical companies in China and is a subsidiary of the Tianjin Bohai Chemical Industry Group
($1 = €0.68)
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|