Shanghai's Chemical Industrial Zone in Full Swing

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Last updated at: (Beijing Time) Wednesday, January 29, 2003

Shanghai's Chemical Industrial Zone in Full Swing

Work started Wednesday on a 300-million-US-dollar polytetrahydrofuran project in Shanghai's chemical industrial zone, marking a new stage of the zone's rapid development.

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Work started Wednesday on a 300-million-US-dollar polytetrahydrofuran project in Shanghai's chemical industrial zone, marking a new stage of the zone's rapid development.

Also well underway at the zone are a batch of key projects withinvestment by United Kingdom-based BP and Germany's Bayer and BASF.

The polytetrahydrofuran project, reportedly the largest of its kind in the world, is funded by BASF and expected to be completed in 2004.

The project will employ state-of-the-art production techniques and adopt technologies provided by the German chemical giant in product management to ensure the products will be environmentally friendly and safe, according to company officials.

The project is also the first polytetrahydrofuran production facility in China. It will provide quality raw materials for downstream manufacturers and boost development of spandex-related light industrial and textile sectors in the country.

Polytetrahydrofuran is the main raw material for spandex, whichis used for producing panty-hose, swimming costumes and sportswear.

Demand for polytetrahydrofuran is on the rise globally. China now relies completely on imports of the product.

Meanwhile, Bayer has finished construction of a polyisocyanate project, which is ready to come on stream in April this year. Another project funded by the German company, a 200,000-ton polycarbonate project, is under construction.

BP is working on a chemical project with a designed annual production capacity of 900,000 tons at the zone.

To date, total investment in the chemical industrial zone has amounted to more than eight billion yuan (963.85 million US dollars).

A new-round of infrastructure construction would start at the zone in the near future to further improve its investment environment, according to an official with the management committee of the zone.

Investment in the zone is expected to rise to 150 billion yuan (18.07 billion US dollars) in 2007, with the world's largest polytetrahydrofuran and isocyanate supply bases as well as China'sbiggest polycarbonate and PVC production bases established there.

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