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CHINA: Joint venture construction plans for proposed $112,500,000 bisphenol A (BPA) plant, MITSUI CHEMICALS INC. [Japan] & CHINA PETROLEUM & CHEMICAL CORP. (SINOPEC) [China] Order #: 061606.

WWP-Business Opportunities in Asia & the Pacific, June, 2006

PROJECT OVERVIEW

A Sino/Japanese 50:50 joint venture, known as SHANGHAI SINOPEC MITSUI CHEMICALS, recently secured a license from the Chinese government in order to build a new bisphenol A (BPA) plant in China that was previously announced in April 2004. The partners in the planned undertaking include Japan-based MITSUI CHEMICALS INC. and the local CHINA PETROLEUM & CHEMICAL CORP. (SINOPEC).

Construction plans under consideration, of undisclosed size, call for building the new facility at Caojing, adjacent Shanghai. The cost to complete the project, by October 2007, has been estimated at $112,500,000.

MITSUI CHEMICALS has a total employment of 5,400 and is acknowledged to be one of Japan's largest producers of petrochemicals as well as its...

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