China’s Qingdao Soda Ash to build oxo-alcohols plant in Shandong

16 February 2012 04:38  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Qingdao Soda Ash Industrial Co said late on Wednesday it plans to build a 225,000 tonne/year oxo-alcohols plant in Shandong province, as part of its industrial expansion.

The project, which will cost yuan (CNY) 2.35bn ($373m), will take 36 months to complete, the company said in a filing to the Shanghai Stock Exchange.

Financing of the project will partially be covered via issuance of up to CNY1.5bn worth of new shares to selected shareholders at CNY5.69 each, the company said.

($1 = CNY6.30)

By: Rachel Yang

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