China
Business Daily reports that DuPont has signed an
agreement to build a titanium dioxide plant to be built in Shandong's
Dongying City. The plant, which is set to go into
operation in 2010, will have an initial annual capacity of 200,000 tons. DuPont
plans on investing up to US$1 billion in the plant and associated facilities.
According to the Dongying government, this project will add 2 points to the
city's GDP. China
has become the world's fastest-growing consumer of titanium dioxide, with
demand rising 8-10% annually, of which more than half is satisfied by imports.
DuPont entered the Chinese market in 1984 and to date has invested a total of
US$700 million on the mainland. The company's plans for the next five years
call for this number to double. DuPont's new US$20 million R&D center, the
largest in Asia, is set to open in Shanghai's
Pudong district.
Link:
http://dycj.ynet.com/article.jsp?oid=6865059