13 November 2012 12:31 [Source: ICIS news]
LONDON (ICIS)--Huntsman has signed its joint venture agreement with China’s Sinopec Jinling Company to build and operate a world scale propylene oxide (PO) and methyl tertiary butyl ether (MTBE) facility in Nanjing, the US headquartered producer said on Tuesday.
The $750m (CNY4.7bn) investment is to produce 250,000 tonnes/year of PO and 726,000 tonnes/year of the fuel additive MTBE. It has been through its environmental impact assessment this year.
Nanjing Jinling Huntsman New Materials expects to complete the facility, which will use Huntsman PO/MTBE technology, by the end of 2014, Huntsman said
Sinopec will own 51% of the joint venture and Huntsman 49%.
($1 = CNY6.23)
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