Eastman joint venture to build new Chinese plant

Eastman joint venture to build new Chinese plant

Qilu Eastman Specialty Chemical Ltd, a joint venture between Sinopec Qilu Petrochemical Company and Eastman Chemical Ltd, has begun the construction of a facility in China to manufacture Texanol ester alcohol and TXIB plasticizer. The plant is being built at Sinopec Qilu's existing site in Zibo, Shandong Province - 400km Southeast of Beijing.

The construction is scheduled for completion in October 2004, with commercial production to come on stream in December 2004. The company says the new plant will enhance Eastman's global capacity and provide a more competitive position on oxo derivative technology currently being imported into China.

Qilu Petrochemicals will become the largest oxo producers in China and Asia on completion. Qilu Eastman Specialty Chemical Ltd will be among the first large Sino-foreign joint venture companies to be established within the recently approved Qilu Chemical Industrial Park - ranked third among chemical parks in China.