Mitsubishi Chemical Starts up PTA Project in Ningbo

摘要

On March 19th,2007 Ningbo Mitsubishi Chemical Company Ltd.put the 600 thousand t/a PTA (purified terephthalic acid)project on stream in Daxie Development Zone,Ningbo,Zhejiang province.With a total investment of US359 million,Ningbo Mitsubishi Chemical was jointly established in April 2005 by China International Trust and Investment Corporation (CITIC Group)and Ningbo PTA Investment Corporation,respectively holding 10% and 90% share.(CCR2005,No.18)In the Japan joint venture - Ningbo PTA Investment Corporation,Mitsubishi Chemical Inc,Itochu Corp.and Mitsubishi Corp.respectively accounts for 61%,35% and 4% equity.Construction was started in May 2005 and was completed on December 31st,2006.