14 June 2012 22:19 [Source: ICIS news]
HOUSTON (ICIS)--US-based Dow Chemical is still evaluating the proposed coal-to-olefins project in China under a joint venture (JV) with Shenhua Group, a Dow executive said on Thursday.
"No final decisions have been made there," said Bill Weideman, chief financial officer for Dow.
Weideman made his comments during the Deutsche Bank Global Industrials and Basic Materials Conference.
"We're still in the evaluation of that project," he said. "No final decisions have been made."
Near the end of 2010, the two companies submitted an application to the Chinese government for approval to build and operate the complex in Yulin city, Shaanxi province.
About a year earlier, a government official said the $10bn (€7.9bn) coal chemical complex was scheduled to start up in 2016 and included 23 production units, auxiliary projects, supporting and storage facilities, with a capacity to produce around 3.5m tonnes/year of fine chemicals and plastic products.
Additional reporting by Judith Wang
($1 = €0.79)
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