Eastman Chemical Company and Sinopec Qilu Petrochemical Company are on track to build world-scale derivatives plants for the production of Texanol ester alcohol and TXIB plasticiser in Zibo, Shandong Province, China. Eastman and Sinopec Qilu today announced the appointment of Qilu Petrochemical Design Institute to undertake a formal feasibility study for the project while they move forward with negotiations of the key contracts associated with the proposed joint venture. The feasibility study is expected to be ready for submission to the Chinese government in December, while the engineering and construction is expected to commence in early 2002. The investment is Eastman’s second major project in China in the specialty chemical markets: the first was a Sino-foreign joint venture, Nanjing Yangzi Eastman Chemical Ltd with Yangzi Petrochemical Industrial Corporation, to manufacture Eastotac hydrocarbon tackifying resins for adhesives.
