Shandong Shida Shenghua announced on October 13 that it plans to team up with Sinochem Quanzhou Petrochemical in setting up a joint-venture company for a 440 kt/a new energy materials project, according to the company’s long-term strategic development plan. 

   The joint-venture company will have a registered capital of RMB332 million. Shida Shenghua will invest RMB183 million, accounting for 55% of the registered capital, while Sinochem Quanzhou will invest RMB149 million, covering the remaining 45%. The 440 kt/a new energy materials project will be implemented in two phases, with a total investment of RMB1.301 billion. Phase I will have an investment of RMB794 million, including a 120 kt/a ethylene carbonate unit, two 50 kt/a dimethyl carbonate (DMC) units and construction period lasts from September 2019 to April 2021. Phase II includes a 120 kt/a ethylene carbonate unit and a 100 kt/a DMC unit.