Summary of Proposed Investment
Project Number
8213
Company Name
SUZHOU HUASU PLASTICS CO LTD
Date SPI Disclosed
Mar 10, 1997
Country
China
Industry
Manufacturing
Status
Completed
Sector
Plastics Material and Resin
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Apr 15, 1997
Signed : Oct 22, 1996
Invested : Feb 21, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | China-Suzhou PVC Project |
| Region | Asia |
| Sector |
Projected Board DateApril 22, 1997
Company NameSuzhou Huasu Plastics Co., Ltd.
Technical Partner and/or Major Shareholders
Westlake International Investments Corp. (BVI): 43% Norsk Hydro a.s. (Norway): 32% China Jiangsu Chemical Pesticide Group Co. (China): 14% China Taicang Petrochemical Co. (China): 3%
Project Cost Including proposed IFC investment
The estimated cost of the Revised Project is about US$90 million.
Location of project and Description of site
Taicang Economic Development Area in Suzhou City (Jiangsu Province), about 40 km northwest of Shanghai
Description of Company and Purpose of Project
In February 1995, IFC’s Board approved financing for the Project in its initial scope which was to construct and operate a 60,000 metric tons per year (tpy) polyvinyl chloride (PVC) resin plant and a 24,000 tpy PVC film calendering facility. Since then, the project scope has been modified to provide a larger PVC resin capacity in view of an expanding market. In its revised scope, the Revised Project is to construct and operate a 100,000 tpy PVC resin plant and a 24,000 tpy PVC film calendering facility. The calendering facility has been operational since 1995, while the PVC resin plant is expected to be completed in 1999. The plants will use technology owned and developed by the Westlake Group of the U.S.. PVC is a major thermoplastic with wide applications in industrial and consumer products such as pipes, fittings, wire cables and bottles.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedures. The following potential environmental, health and safety impacts of this project were analyzed: site location and infrastructure, air emissions, liquid effluent management, solid waste, environmental and safety standards applied, and emergency prevention and response. The plant design is based on U.S. engineering specifications for environment and safety and the project is designed to comply with local regulations and World Bank guidelines. The Environmental Protection Bureau of Suzhou City has approved the Environmental Impact Assessment Reports submitted by the Company.
The is from the Public Information Center.
| Date SPI sent to PIC | March 10, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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