China’s Hebei Jinniu to resume construction of Cangzhou PVC unit

05 December 2011 06:44  [Source: ICIS news]

SHANGHAI (ICIS)--China’s Hebei Jinniu Chemical Industry plans to resume construction of its 400,000 tonne/year polyvinyl chloride (PVC) plant at CangzhouHebei province, in late December, the company said in a statement on Monday.

Construction of the PVC plant originally began in the second half of 2003, but was halted in August 2007 because a major shareholder declared bankruptcy, according to a company source.

Construction of the remainder of the PVC plant will require an investment of no more than yuan (CNY) 2.2bn ($346m) and is expected to take a year, according to the Hebei State-owned Assets Supervision and Administration Commission.

The commission approved the investment for construction of the remainder of the PVC plant in mid-November this year.

($1 = CNY6.35)

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By: Dolly Wu
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