Germany’s Bayer has signed an agreement with China’s Shanghai Chemical Industry Park Co. to build a petrochemical complex at a cost of USD 3.1 billion. Construction at the site in Caojing, outside of Shanghai, is set to begin in November. The complex would include three core projects. In the first-phase project, Bayer would build an 11,500 mt/yr polyisocynanates plant by 2002 at a cost of USD 110 million. Polyisocynanates are used to produce colorants and coatings systems for use in the automotive, construction, and furniture industries. Together with its local joint venture partner, Shanghai Chlor Alkali Co., Bayer will also build a 100,000 mt/yr polycarbonate plant in the second stage. The third project will include the construction of a 380,000 mt/yr isocyanates plant.
