Chongqing, China – Chiyuan Chemical, based in southwestern China’s Chongqing municipality, started a trial run for its 60kT/year BDO and 46kT/year PTMEG facilities in late April 2014.
The project started in 2011 with RMB2.6bn ($413m) investment after Chiyuan was jointly set up the same year by fertiliser maker Jianfeng Chemicals and a local asset management firm. Chiyuan is 51%-owned by Jianfeng.
According to Jianfeng’s earlier announcement, the project will bring RMB215m annual net profit on RMB1.4bn revenue when it goes into full operation.
XE Currency conversion: 7 May