Celanese to Build Acetic Acid Plant in China
Celanese AG today announced that it has received Chinese government approval to build a world-scale acetic acid plant in the Jiangsu province. The plant will be located at the Nanjing Chemical Industry Park, Nanjing City, in eastern China.
The facility will have an annual capacity of 600,000 metric tons. Project activities will begin immediately, with production expected to begin in late 2005/early 2006. The investment amount for the project is not disclosed. Celanese reaffirmed its guidance for 2003 total capital expenditure of approximately EUR 230 million. Celanese capital expenditures in the acetyl segment over the next three years will approximate depreciation.
In China, Celanese has long-standing joint ventures in cellulose acetate tow. In addition, groundbreaking for a new polyacetal engineering plastics joint venture site is expected to take place in mid-2003 in Nantong, China.
Nanjing City, in the commercial heart of China, is situated on the lower Yangtze River and offers superior logistics provided by a vast network of rail, road, and waterways. The Nanjing Chemical Industry Park is one of the two State-level petrochemical parks in China.
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