24 January 2013 03:18 [Source: ICIS news]
SINGAPORE (ICIS)--Huntsman and Sinopec Jinling has started building their 240,000/tonne propylene oxide (PO) and 742,000 tonne/year methyl tertiary butyl ether (MTBE) joint venture (JV) at Nanjing in Jiangsu province, a company source from Sinopec said on Thursday.
The new facility, which involves an investment of about yuan (CNY) 4.7bn ($756m), held a short groundbreaking ceremony in Nanjing Chemical Industry Park on 23 January, the company source added.
The new facility is expected to be completed at the end of 2014, according to the source.
The joint venture is named as Nanjing Jinling Huntsman New Materials, with Huntsman holding a 49% stake and Sinopec holding 51%.
($1 = CNY6.22)
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