Keyuan petrochemicals to build new petrochemical facility in China

Keyuan Petrochemicals has signed a cooperation agreement with Fangchenggang City to build a new production facility in China’s Guangxi Province.

The company will construct the new petrochemicals production facility, Keyuan New Materials Industrial Park in Fangchenggang City.

The company conducted extensive preliminary studies for the past 12 months to set up the facility, which is part of the company's goal to extend and expand its supply chain and manufacturing base.

Keyuan expects to commence construction in February 2012 and will fund the project with bank financing and internal cash flows.

On completion, Guangxi Keyuan New Materials Industrial Park is expected to have annual production capacity of 400,000 metric tons of Acrylonitrile Butadiene Styrene.

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