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Like years ago when Ministry of Communication and Hongkong Investment Promotion Bureau make joint investment in developing the Shenzhen Shekou Industrial Park, Sinochem International is carrying out a large-scale march towards Yangtze River Delta. Through the cooperation with Suzhou Municipal Government, it has taken a area of 20 square kilometers adjacent to Shanghai Jiading and Baoshan District as the place for the to-be-built chemicals logistics park at one stroke.
It is said that, with the condition for port building surpassing that of current Shanghai port near Huangpu River, the area covers a coast line at the mouth of Yangtze River which is 3.175 kilometers long, where a 50000 tons class deepwater wharf can be built. Meanwhile, Sinochem International, the traditional company, also made a requisition of a land of 580 acres for the production project of PTMEG, ABS and ammonia that are all in urgent need in the domestic market. Today, the journalist has witnessed they pitching the last cement stake of the first phase of the project.
Looking at the mouth of Yangtze River in distance from the river dike in Taicang in Jiangsu province, where the world largest granary was once built, the journalist could see Congming Island of Shanghai coming and going once a while. Adjacent to Shanghai Jiading and Baoshan District, this area is born for a good port. This virgin land was firstly reclamated by a Taiwan company, who took up hundreds of acres to have established a chemicals material factory. Then, an American company made an investment to have established a electronic factory there, while Daqing oilfield funded a special port and a vast of oil storage tanks. Sinochem International, thereafter, took the rest land of 20 square kilometers. On Sep. 21st, in the New Su International Hotel, Sinochem International and Suzhou Municipal Government signed an agreement of the strategic cooperation principals, which has defined the intention and principals of the strategic cooperation between them in the future on the basis of the Taicang project. In the agreement, a cause about the using of 20-square-kilometer land for logistics park said, Suzhou Municipal Government agreed on providing Sinochem International with the area including coast line, intertidal zone and waters near the chemicals logistics and petrochemical parks. And the company is also allowed to make sole investment or cooperate with the third part in building public berth with 10 thousands of tons weight or above.
According to the agreement, with the approval of the second session of the board of directors of Sinochem International, the company will spend 29 million Yuan in cash, make joint investment with Hongkong Lifeng Industry Co., providing a fund of 25 million Yuan (counting in Hongkong Dollars) and Sinochem International Fertilizer Trade Co., who offers a capital of 6 million Yuan, in establishing Sinochem Logistic Co., Ltd., the name of which is subject to the one registered and approved in industrial and commercial agencies.
Judge from the situation when the Shenzhen Shekou Industrial Park, covering a area of 2 square kilometers, began to take shape with the investment of US$ 1 billion made by Ministry of Communication and Hongkong Investment Promotion Bureau, it will at least take US$ 10 billion ( more than 82.1 billion Yuan ) to develop Taicang chemical port, where warehouses, chemical professional ports, roads and electric and water suppliers are going to be built, according to the journalist's observation. When asked about the capital gap for develop this area of 20 square kilometers, Wang Yingpin, Director and G.M of Sinochem International; Yang Yibang, Chief engineer and Ex-Deputy Minister of the State Ministry of Chemical industry, and Pan Yuexing, Deputy G.M. said, the logistics company established with an investment of 60 million Yuan just played a role as a platform of development, while the development of logistics park still expect overseas investments, the cooperation of the company with international ones and the continuous pouring of capital from Sinochem International itself.
The journalist also watched the construction of the project of Sinochem International Taicang Xingguo Co.,Ltd.. which is PTMEG as special materials for ammonia project with an annual output of 20000 tons. The project has its sewers buried in the bank of Yangtze River and has the piling of foundation just finished. According to the introduction of Yang Yibang, who was once Ex-Deputy Minister of the State Ministry of Chemical industry and now the Chief director of the engineer, as a advanced material for garment production, ammonia is now enjoying a demand of about 120000 tons in the domestic market, which is hard to meet only by overseas enterprises in the country, whose output is only over 50000 tons, leaving a huge gap. If the project is carried on smoothly, it is expected to finish on May 31st, 2004, and formally put into operation on Jul.15th 2004. Adopting the world most advanced technology of PTMEG for heteropoly acid continuous bulk polyurethane which is featured with advanced techniques, short technological process no pollution, low investment (only accounting for 50% of that of its kind in Europe and America), low cost (80% of that of traditional ones), and good quality, the project is expected to gain full returns of investment within two years, with Sinochem International owning the independent IPR. The operation of the project will put the history of China depending on importing products of PTMEG for ammonia to an end, thusly giving vigorous support to the development of the textile industry of our country.
Another project Sinochem International started in Taicang is the latest technology of ABS special material successfully developed by the company recently. This material, with no poison and damage, and never generating poisonous gene , is used to make inner container of the refrigerator. As a large producer of refrigerator, China always relies on the import of ABS. This project is also expected to finish and put into operation in Dec. 2004.
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