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Integrated Isocyanates Project Achieves Mechanical Completion

Published on 2006-05-04. Author : SpecialChem

SHANGHAI, China -- The General Manager of the Integrated Isocyanate Project (IIP) being constructed at the Shanghai Chemical Industry Park announced that the project has reached its Mechanical Completion, a significant milestone on the way to commercial operation scheduled for the middle of 2006.

"This was one of the most ambitious goals set by all the investors of the project," stated Mr. Bob Gill, general manager of Shanghai Lianheng Isocyanate Company Limited, one of three joint ventures formed by five investors, including BASF, Huntsman, Shanghai Hua Yi (Group) Company, Sinopec Shanghai Gao Qiao Petrochemical Corporation and Shanghai Chlor-Alkali Chemical Co., Ltd.

"Thanks to the outstanding efforts of our dedicated employees and thousands of hard-working contractors, we have been able to successfully achieve this target safely and on time," said Mr. Gill. "Our current aim is to start up all our plants across the three joint ventures successfully by the middle of this year." The comment was also echoed by the other two general managers, Mr. Jaak Van Steen, from Shanghai BASF Polyurethane Company Limited and Mr. Peter Chiu, from Huntsman Polyurethanes Shanghai Limited.

The project has also achieved nearly 28 million safe working hours to date. The USD$1 billion project has a planned capacity of 240,000 metric tons per year of crude MDI (diphenylmethane diisocyanate) and 160,000 metric tons per year of TDI (toluene diisocyanate), supplying the rapidly growing local market for polyurethanes. Over the next decade, the market for polyurethanes in China is expected to grow at a rate of about 10 percent and will become the largest market in the world by 2015.

The integrated isocyanate complex is built and operated through three separate joint ventures:

  • Shanghai Lianheng Isocyanate Co. Ltd. - A 240,000 metric tons per year crude MDI manufacturing plant including manufacturing facilities for the precursors aniline and nitrobenzene built by BASF, Huntsman, Shanghai Hua Yi (Group) Company, Shanghai Chlor-Alkali Chemical Co. Ltd. and Sinopec Shanghai Gao Qiao Petrochemical Corporation.
  • Shanghai BASF Polyurethane Co. Ltd. - An MDI finishing plant and a 160,000 metric tons per year TDI plant with precursors nitric acid and dinitrotoluene built by BASF, Shanghai Hua Yi (Group) Company and Sinopec Shanghai Gao Qiao Petrochemical Corporation.
  • Huntsman Polyurethanes Shanghai Ltd. - An MDI finishing plant and a prepolymers plant built by Huntsman and Shanghai Chlor-Alkali Chemical Co. Ltd.

The isocyanates, MDI and TDI, are important precursors in the manufacture of polyurethanes - versatile polymers that are used in many applications such as the automotive and construction industries, in appliances such as refrigerators, and for upholstery and footwear.

Huntsman is a global manufacturer and marketer of differentiated and commodity chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman today has 11,300 employees, 57 operations in 22 countries and had 2005 revenues of $13 billion.

Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. Accordingly, there can be no assurance that the company's expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Source: Huntsman


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