23 August 2013 07:27 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Tongliao Gem Chemical is planning to construct a 100,000 tonne/year monoethylene glycol (MEG) plant at Jining in Shandong province, its parent company Dahua Chemical Technology said on Friday.
The yuan (CNY) 800m ($131m) plant will be a 65:35 joint venture between Tongliao Gem Chemical and Jinxiang Hengde Chemical, the Shanghai-listed Dahua said in a statement.
Construction of the project is estimated to take approximately 12 months, it said.
The two partners also eye to expand MEG capacity at the site to 600,000 tonnes/year eventually, according to the statement.
Timeline of the project could not be available at present.
Tongliao Gem Chemical currently operates a 200,000 tonne/year MEG plant at Tongliao in Inner Mongolia.
($1 = CNY6.12)
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