Solvay’s joint venture soda ash plant in China

Solvay’s joint venture for soda ash plant in China

12:30 PM, 18th June 2011
Solvay’s joint venture for soda ash plant in China
Solvay, Headquarters.

BRUSSELS, BELGIUM: Solvay has decided to invest € 16 million in the Chinese soda ash producer Tianjin Soda Ash plant. Solvay will acquire a 30 per cent participation in the soda ash plant built in Bin Hai near the city of Tianjin, China. The company will also provide guarantees on loans, bringing the total committed and invested amount to almost € 60 million. With this deal, Solvay will get direct access to the large Chinese soda ash market.

The plant with a yearly capacity of 800,000 ton soda ash and related products such as bicarbonate and of 800,000 ton ammonium chloride is in the start-up phase. The plant in Bin Hai will be fully operational by the middle of this year. Solvay will commercialize yearly under its own brand name 220,000 metric ton soda ash and 30,000 metric ton bicarbonate.

"This investment will give Solvay a new access to the large Chinese market, one of the fast growing countries. We can furthermore capitalize on the strengths of Tianjin Soda Ash Plant and its parent company Bohai Group to develop this joint venture into one of the strongest soda ash suppliers in China,” said Vincent De Cuyper, Group General Manager, Chemicals Sector, Solvay. “This is a logical step in the expansion of Solvay’s activities into China and complements the decision to locate the head office of Solvay’s newly created Regional Business Unit Essential Chemicals Asia of the Solvay Group in Shanghai,” he added.

© WOC News




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