INEOS to invest in China

INEOS Phenol will invest in a 400,000 metric ton per year phenol plant in Zhangjiagang, Jiangsu Province, China, following official approval. The company said that China’s National Development Reform Commission, the Ministry of Commerce and the Zhangjiagang Administration of Industry and Commerce have all approved the unit, which would also produce 250,000 metric tons of acetone. “It is expected that production from the Zhangjiagang facility will serve the growing market for phenol and acetone in China and will free capacity at the company’s European and U.S. plants to meet growth in these regions,” the company said. The completion of this new plant in China will increase INEOS Phenol’s global capacities to more than 2.2 million metric tons per year of phenol and 1.2 million metric tons per year of acetone. (February 21, 2007)