China's CNCEC plans CNY6.2bn chemical complex at Jiangsu

26 August 2011 05:47  [Source: ICIS news]

GUANGZHOU (ICIS)--China National Chemical Engineering Co (CNCEC) is planning to spend yuan (CNY) 6.2bn ($970m) to build a chemical complex at Qidong in Jiangsu province, the company said in a statement on Friday.

The facility would include a CNY1.9bn propylene oxide (PO) plant, a CNY704.5m hydrogen peroxide plant, a CNY377.7m styrene-butadiene copolymer (K-resin) plant and a CNY2.1bn adipic acid plant, according to a company statement.

It would spend CNY1.1bn to build the infrastructure for the complex, the statement said.

The company also has plans to construct a CNY993.2m phenol/acetone plant at the same site at a later time, it added.

The capacities of the plants and the timeline for the construction of the facility were not disclosed, while company sources were not available for comment.

($1 = CNY6.39)

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By: Fanny Zhang
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