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

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Rhodia reports soaring results on strong pricing

Record profitability with EBITDA up 28 per cent to € 283 million Volumes up 9 per cent, reflecting sound business dynamics Strong € 51 m ...

Read more
Bayer MaterialScience plans new production facility in Shanghai

With a planned investment volume of EUR 65 million, the new production facility will produce coating raw materials in Shanghai. The facility producing ...

Read more
Eni awarded Arguni I exploration license in Indonesia

SAN DONATO MILANESE, ITALY: In the 2nd Indonesian International Bid Round 2010, Eni has been awarded the 100 per cent participation interest and opera ...

Read more
Asahi Kasei to start spunbond manufacturing facility in Thailand

  TOKYO, JAPAN: Asahi Kasei Fibers will establish a subsidiary in Thailand for the manufacture and sale of spunbond nonwovens. The disposable ...

Read more
LyondellBasell to purchase olefins pipeline system

HOUSTON, US: LyondellBasell will purchase approximately 200 miles of pipeline near Houston from BP by its Equistar Chemicals, LP subsidiary. The pipel ...

Read more
Mylan to rebrand Matrix Laboratories

Planning to rebrand business as Mylan to extend global brand and prepare for commercial launch of prescription products in India. PITTSBURGH, US/MUMB ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X