07 February 2013 04:03 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Yantai Wanhua plans to set up a new company at Guangdong Zhuhai Gaolan port, in a bid to be close to the market and customers, the company said in a statement to the Shanghai Stock Exchange late on Wednesday.
The new company covers 340,000 square metres (sqm), with registered capital of yuan (CNY) 200m ($32m), and is named Gangdong Wanhua Chemical Technology.
The project includes two phases, and it involves a total investment of CNY2bn, the company said.
The first phase, which will cost CNY700m, consists of a water surface material resin unit and a modified methyl di-p-phenylene isocyanate (MDI) unit. It will be built from July 2013 to June 2015.
The second phase, which will cost CNY1.3bn, consists of a new polyether polyols unit and further debottlenecking of the first phase plants. It will be built in 2017-2018.
Scale of Main Plant Plant?xml:namespace> Capacity (kt/yr) water surface material resin Phase I 100 Phase II 100 modified MDI Phase I 50 Phase II 50 polyether polyols Phase II 50
water surface material resin
($1 = CNY6.23)
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