On April 18, Sinochem International (600500. SH) signed an investment agreement with Yangzhou Chemical Industry Park to build an ABS plant in the suburb of Yangzhou City, Zhejiang Province.
The total investment of the project is about RMB 500 million, covering an area of about 4.3 hectare. Upon completion, it is expected to yield 56,000 tons of modified ABS resin every year (24,000 tons/year planned for the first phase, with an investment of about RMB 280 million). This project is another strategic movement of Sinochem to the new material industry. The new ABS plant will increase Sinochem’s presence in global market.