GS Caltex to build first engineering plastic unit in Jiangyin

16 December 2011 09:51  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s GS Caltex is planning to build its first 50,000 tonne/year engineering plastic plant at Jiangyin in Jiangsu province, east China, a company source said on Friday.

The company will start building the $50m (€38.5m) plant in May and is planning to complete it at the end of 2012, the source said.

In addition, the company is planning to start building a second $50m engineering plastic plant at the same site, the source said without specifying the capacity of the unit or the construction timeline.

The signing ceremony for the plant 50,000 tonne/year facility was held on 24 November, the source added.

GS Caltex is building the new plants as part of its company plans and will be divided into two phases, the source said.

($1 = €0.77)

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By: Adele Zhu



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