22 May 2012 04:58 [Source: ICIS news]
SINGAPORE (ICIS)--China Tianchen Engineering Corporation and Fuzhou Yaolong Chemical Group have started construction work at their joint caprolactam (capro) plant at Fujian Jiangyin Economic Development Zone in ?xml:namespace>
The yuan (CNY) 4.6bn ($728m) capro project includes a 200,000 tonne/year capro plant, a 200,000 tonne/year cyclohexanone plant and a 300,000 tonne/year ammonium sulfate plant, according to a statement released by Fujian Development and Reform Commission on Tuesday.
The project is expected to be brought on stream by the end of 2013, and its annual turnover is expected to reach CNY5.2bn, according to the statement.
Tianchen Engineering, a wholly owned subsidiary of China National Chemical Engineering Co (CNCEC), has a 60% stake in the plant and Fuzhou Yalong holds the remaining stake.
($1 = CNY6.32)
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