Dow Chemical to Set Up JV with China Shenhua

BEIJING, Feb 25, 2008 (SinoCast via COMTEX) -- DOW | news | PowerRating | PR Charts -- The feasibility report of a joint venture project between The Dow Chemical Company and Shenhua Group Corporation Limited is likely to be submitted to the National Development and Reform Commission in the first half of 2009.

Dow Asia Pacific and Greater China President James Mcllvenny revealed the news on February 21, 2008.

The two parties signed a cooperative agreement in May 2007, and started feasibility study of the coal chemical project situated in the surrounding regions of Yulin City in central Shaanxi Province.

Dow's investment in the project is to reach USD 5 billion, according to its commitment, making a record high of foreign investment in China, while an expert believes that the total investment from both sides may hit USD 8 billion to USD 10 billion.

Dow's sales in China surged to USD 3.3 billion in 2007, from USD 2.7 billion a year ago.

From dycj.ynet.com, Page 1, Friday, February 22, 2008 info@SinoCast.Com

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