Shanghai chemicals venture approved

Shanghai Chlor Alkali Chemical Co has agreed to build a chemical plant in Shanghai in a joint venture with BASF of Germany, Huntsman of the US and two Chinese partners, Reuters reported. The plant would produce 160,000 tonnes a year of crude methylene diisocynanate (MDI) and 130,000 tonnes of year of toluene diisocyanate (TDI) – materials used in the automotive and construction industries. The Chinese partners are to provide 3 per cent of the Yn9.3bn investment, with the two foreign partners providing 70 per cent, a Chlor Alkali official said.