| |
| |
 |
| |
|
| |
|
| |
|
SINGAPORE: SP Chemicals is planning to produce styrene monomer to meet strong demand for the raw chemical.
The chemical is used to make polystyrene plastics, protective coatings, polyesters and resins. It can also be used in a wide range of consumer and industrial applications.
SP Chemicals plans to invest 1.1 billion renminbi or S$220 million on production facilities in China. The investment will be financed by internal cash flow and bank borrowings.
SP Chemicals is targeting to produce 320,000 tonnes of styrene monomer a year.
It says construction of the new styrene monomer production facilities is expected to start in the third quarter of Financial Year 2008, and completed by the fourth quarter of FY2009.
Trial production is targeted to take place by the first quarter of FY2010.
According to China's Styrene Monomer Association, the global supply for the chemical last year was 25 million tonnes compared to the demand of 25.5 million tonnes.
By 2010, the total global supply is estimated to be 28.5 million tonnes and demand at 33.5 million tonnes.
- CNA/so
|
