Global Bio-chem Technology Group said it planned to invest up to RMB4.8 billion in a new plant in Dehui, Jilin province to process corn instead of petroleum to make polyol used in textiles, plastics, pharmaceuticals, refrigerants and cosmetics. But the company said it would only ratchet up investment in phases. The pilot, begun in July with an annual production capacity of 10,000 tonnes of polyol, is to be followed by a second phase raising capacity to 200,000 tonnes, if the company decides to extend the project next year. A third phase would bring capacity up to 1.2 million tonnes. The technology is being supplied by Global Bio-chem's US partner, International Polyol Chemicals.