18 October 2013 08:28 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Wanhua Chemical said on Friday that it is planning to build a 120,000 tonne/year superabsorbent polymers (SAP) project at Yantai in Shandong province amid expectations of strong domestic demand growth.
The project will utilise Wanhua Chemical’s own acrylic acid as feedstock, the company said in a statement on the Shanghai Stock Exchange.
Under the first phase of the project, the company is planning to invest about about yuan (CNY) 160m ($26.2m) to construct a 30,000 tonne/year SAP unit at Wanhua Yantai Industry Park, it said.
Separately, the company is planning to invest around CNY1.6bn to establish its headquarters as well as a research and development (R&D) centre at the Yantai Economic Development Zone in the next two years.
The R&D centre aims to extend the company’s product chain and tap opportunities in new areas such as propane and butane, it added.
Wanhua Chemical is currently the biggest methyl di-p-phenylene isocyanate (MDI) producer in Asia.
($1 = CNY6.1)
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