20 December 2012 06:41 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Chongqing Huafon Chemical, a subsidiary of Huafon Group, has started construction of its new 480,000 tonne/year adipic acid (ADA) unit at Chongqing, a company source said on Thursday.
The company held a foundation laying ceremony which marked the beginning of the second phase of the adipic acid project, the source added.
The second phase will cost about yuan(CNY) 6bn ($962m), and the unit is expected to be completed at the end of 2013, the source said.
At the same time, a completion ceremony of a 160,000 tonne/year adipic acid unit was held, which was the first phase of the project with an investment of CNY 2.5bn, according to the source.
The project is located at Chongqing Huafon Chemical Park, which is expected to be the biggest ADA production base in China following the completion of the second phase, Xiaoping You, the chairmen of the Huafon Group board said on the ceremony.
($1 = CNY6.24)
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