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Article Excerpt
PROJECT OVERVIEW:
A Sino/Japanese joint venture was recently established in view of building what is claimed to be China's largest methanol plant. The partners in the planned undertaking and their respective shareholdings include the local CHONGQING CHEMICAL & PHARMACEUTICAL HOLDING (GROUP) CO. LTD. (51%) and Japan-based MITSUBISHI GAS CHEMICAL CO. (MGC - 49%). In so doing, the partners expect to establish the new company to implement the project some time in fiscal 2005.
Construction plans under consideration call for building a complex with an installed production capacity of 850,000 tons per year. The new facility is to be sited in Chongqing, Sichuan Province, an area with abundant natural gas reserves that will be used to produce methanol that is subsequently used to manufacture synthetic fiber.
The cost to build the new facility, by some time during the year 2008, has been pegged at $200,000,000.
MGC has a total employment of some 2500 engaged in the manufacture of methanol, xylene, industrial chemicals, ammonia as well as advanced materials and the export of technology. The company is also involved in the mining and sale of natural gas, petroleum and other minerals including the development of geothermal energy.
COPYRIGHT (Cr) World Wide Projects (WWP) 2004 The data contained in this report may not be reproduced, redistributed and/or put into an information retrieval retrieval system without the prior written permission of the publisher. Companies that have multiple users are invited to take advantage of our highly discounted Site License.
KEY PROJECT CONTACTS:
Akira Ohira, Chairman Hideki Odaka, President Hiromi Nakamura, Sr. Managing Executive Officer (Administrative Management of Finance, Accouting & Personnel Center, Corporate Communications Division, Internal Audit Division & Natural Gas Chemical Co.) Yasuhiko Kajima, Sr. Managing Executive Officer (Administrative Management of Corporate Planning Division, Purchasing & Logistic Center & Specialty Chemicals Co.)...
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