20 February 2014
Details
INEOS and Sinopec YPC
have signed the Joint Ventures Agreement
and Aricles of Association forming
a 50%/50% joint venture company to be called
INEOS YPC Phenol (Nanjing) Company Ltd.
to build the largest Phenol Acetone plant
with annual capacity of at least
* 400,000 tonnes of phenol and
* 250,000 tonnes of acetone
* including 550,000 tonnes of cumene capacity
in Nanjing, Jiangsu Province, China
with total investment about $0.5 billion
(RMB 3.15 billion)
to be operational by the end of 2016.
The plant
- will be based on
* INEOS' proprietary phenol technology and
* Sinopec's proprietary cumene technology and
- will benefit from Sinopec's local feedstock
and personel advantage and
- wil generate annual sales revenue of around
$0.8 billion (RMB 4.9 billion)
Once completed, the plant will supply
phenol/acetone to customers including on-site customers
and this integration will strengthen and underpin
the phenol/acetone derivatives industry
in what is the biggest chemical market
in Eastern China.
This is
* INEOS' largest investment in China and
* YPC's eight joint venture.
Uses and Applications
Phenol and Acetone
are important organic chemical intermediates
widely used in the industries of
* phenolic resin, caprolactam, bisphenol A,
* salicylic acid, fibres, plastic, synthetic rubber,
* pharmaceuticals, agrochemicals,
* dyes, coatings, leather and epoxy resins.
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