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China Chemical to set up CPL plant in JV with Fuzhou
04
Nov '11
China Chemical Co recently announced that its wholly-owned subsidiary would set up a new project to produce caprolactam (CPL) in a joint venture (JV).

The wholly owned subsidiary – China Tianchen Engg Corp will set up the 200,000 tons per year caprolactam plant in a JV with Fuzhou Yaolong Chemical Group Co Ltd.

Tianchen will hold 60 percent of the total shareholding with the rest accounted for by Fuzhou Yaolong in the new company to be called China Tianchen Yaolong New Materials Company.

The CPL plant to be located in Jiangyin Development Zone, Fuqing City in Fujian Province, will be set up at a cost of 4.193 billion Yuan and would be operational in a period of 24 months.

China Chemical achieved total revenue of 28.584 billion Yuan and net profit of 1.369 billion Yuan in the first three quarters in 2011, representing an increase of 23.84 percent and 34.88 percent, respectively, year on year.

Fibre2fashion News Desk - China

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