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MOSCOW (MRC) -- Huafon Chemical
plans to invest CNY4.36bn (USD674m) to construct a 300,000 tonne/year
spandex project at Chongqing, said the company.
The project will be
implemented in three phases, with a capacity of 50,000 tonnes/year, 150,000
tonnes/year and 100,000 tonnes/year, respectively. Each phase is expected to
take two years to complete construction.
Currently in early stage without
a detail timeline, the project will focus on high-end products to improve the
company’s competitiveness, it said.
As MRC informed earlier,
BASF and Huafon Group Co., Ltd. have signed a strategic cooperation agreement to
extend their partnership with initiatives to develop the polyurethane, bio-fiber
and spandex markets in China. The two companies will work together in the
areas of technical exchange, market development, and quality raw material
supply.
As MRC informed earlier,
BASF says its 420,000-metric ton/year steam cracker in Ludwigshafen, Germany is
continuously running and has not caused any interruption of supply to its
customers. Earlier, several media outlets reported that unscheduled flaring
started on 13 January at the northern part of the Ludwigshafen site and was
expected to last until 17 January and that an unspecified unit was shut, which
"was not the case", as per the company's letter received by MRC.
Ethylene
and propylene are feedstocks for producing polyethylene (PE) and polypropylene
(PP).
According to MRC's DataScope report, PE
imports to Russia decreased in January-November 2020 by 17% year on year and
reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the
greatest reduction in imports. At the same time, PP imports into Russia
increased by 21% year on year to about 202,000 tonnes in the first eleven months
of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase
in imports.
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