SP Chemicals (Taixing) Co Ltd is a leading enterprise in the Taixing Economic Development Zone. [photo/WeChat account: txjjkfq]
A high-end new materials plant being operated by SP Chemicals (Taixing) Co Ltd – which is based in Taixing, in East China's Jiangsu province – was listed in the country's latest batch of major foreign-invested projects on Jan 12.
The company is the first domestic enterprise to import ethane products. It now a raft of world-class scale chemicals plants that create the two industrial supply chains for chlor-alkali and olefin.
In addition, two liquid chemicals jetties and a general-purpose jetty are situated next to the plant.
With a total investment of $1.45 billion and site covering about 50 hectares, Taizhou SP Chemicals' high-end new materials project plans to build a new syngas plant, alongside other ancillary plants and facilities.
The seventh batch of the country's major foreign-invested projects features 11 projects in sectors including biomedicines, automobile manufacturing, batteries for new energy vehicles and chemicals.
The total planned investment of the projects will be over $15 billion, according to the commission.
The foreign-funded projects are characterized by large-scale investments and advanced technology, which are predicted to help stabilize industrial and supply chains and will require handling at the national level.