China’s Yantai Wanhua plans to set up new company at Zhuhai

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

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

($1 = CNY6.23)


By: Vikki Shen



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