JV to build rubber factory
By Richard Fu |
May 30, 2012, Wednesday
|
Print Edition
Print Edition
SINOPEC Corp and Japan's Mitsui Chemicals Inc will build a 2 billion yuan (US$315 million) synthetic rubber factory in Shanghai, which will help China cut its heavy reliance on imports.
The plant, in the Shanghai Chemical Industry Park, will be able to produce the world's biggest volume of ethylene-propylene-diene terpolymer at 75,000 tons a year when commercial production starts in the first quarter of 2014.
Sinopec and Mitsui will invest in the project through an equally-owned new joint venture, the Chinese firm said in a statement yesterday.
China's consumption of the synthetic rubber totaled 237,400 tons in 2011, with imports taking up 223,000 tons.
The synthetic rubber is widely used in auto parts, electric wires and cables, as well as other industrial products. It is known for its superior ability to cope with various climatic conditions and its resistance to heat and cold.
The plant, in the Shanghai Chemical Industry Park, will be able to produce the world's biggest volume of ethylene-propylene-diene terpolymer at 75,000 tons a year when commercial production starts in the first quarter of 2014.
Sinopec and Mitsui will invest in the project through an equally-owned new joint venture, the Chinese firm said in a statement yesterday.
China's consumption of the synthetic rubber totaled 237,400 tons in 2011, with imports taking up 223,000 tons.
The synthetic rubber is widely used in auto parts, electric wires and cables, as well as other industrial products. It is known for its superior ability to cope with various climatic conditions and its resistance to heat and cold.
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