Written on 31.05.2013 - Industry
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CHINA: Ineos signs with Tianjin Bohai Chemical for Chinese acrylonitrile joint venture

Ineos Nitriles and Tianjin Bohai Chemical Industry Group have signed a “heads of terms” to create an equally-owned Chinese joint venture for the production of acrylonitrile.

The non-binding agreement sets out the two companies’ intention to establish a joint venture to build and operate a 260,000-t/y acrylonitrile plant in the Tianjin Chemical Industrial Park in Tianjin, China. The plant, which will be based on Ineos process and catalyst technology, is expected to be completed by the end of 2016.

The partnership will benefit from Tianjin Bohai Chemical’s operating capability, local feedstock advantages and proximity to derivative growth markets. A final agreement is subject to confirmation of satisfactory project costs and conclusion of discussions with local authorities.

Ineos, noting that this project will make it “the only producer to have plants in each of the world’s largest acrylonitrile markets,” added that there is “an expectation of possible future expansion, in line with growing demand across Asia.”

Source: Weekly "PetroChemical News", Durham, NC, USA; 27 May 2013

(Syed Rashid Ali, Karachi, Pakistan)