23 September 2013 17:39 [Source: ICIS news]
To be constructed in Nanjing, the facility will have a capacity of 400,000 tonnes/year of phenol and 250,000 tonnes/year of acetone, as well as 550,000 tonnes/year of cumene, the company said.
The companies said that they have established a 50/50-owned joint venture company with a total investment of around $500m, with annual sales revenues expected to be around $800m. The plant is expected to be onstream by the end of 2016.
The project achieved regulatory approval from the National Development Reform Commission (NDRC) on 27 August this year, the companies added in a joint statement.
A source told ICIS in June this year that 70% of the phenol and acetone material produced at the site would be for the local market, and 30% would be for neighbouring markets in eastern China.
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