Sumitomo Chemical and Jingang to Form JV for Production of Fine Chemicals    

Japan's Sumitomo Chemical and China's Jingang Group has signed an agreement on forming a joint venture to manufacture fine chemicals in Dalian.
   The proposed JV - Dalian Sumitomo Chemical Jingang Chemical Co., Ltd., with an equity split of 80: 20 between Sumitomo Chemical and Jingang Group, plans to spend US$150 million for production of fine chemicals at Dalian Economic & Technological Development Zone, Liaoning province, northeastern China. Construction is expected to start in the first quarter of 2009. In additional, the new JV will manufacture agricultural film in the site.
   Sumitomo Chemical set up a joint venture in May 2003 with Dalian Chemphy Chemical Co., Ltd to manufacture agrochemical intermediates in Dalian Economic & Technological Development Zone.