BEIJING, March 7 (Xinhua) -- U.S. chemical giant Dow plans to establish a manufacturing hub for specialty chemicals in Zhanjiang, south China's Guangdong Province, to capture growth opportunities in China and the entire Asia Pacific chemicals market.
The chemical producer has signed a Memorandum of Understanding (MoU) with the administrative committee of the Zhanjiang Economic and Technological Development Zone to build the Dow South China Specialties Hub, the company said in a press release.
Under the MoU, Dow would invest approximately 250 million U.S. dollars to construct specialty polyurethanes and alkoxylates facilities, with a total production capacity of about 250,000 tonnes.
Noting that the Asia Pacific is the world's largest chemicals market, Jon Penrice, Dow Asia Pacific president, said demands in the region are evolving toward high-value, specialty chemicals that help customers meet rapidly-developing megatrends in mobility, urbanization and sustainability.
According to the company, advanced digital, intelligence and automation technologies will be adopted and employed at the new manufacturing hub.
The site also offers opportunities for future development and expansion, the company added. Enditem
