Hanbon (Jiangyin) Received Consortium Loan to Finance PTA Project     

Hanbon (Jiangyin) Petrochemical Co., Ltd. signed an agreement with banks on March 18th to get consortium loan of RMB1.2 billion for financing its ongoing purified terephthalic acid (PTA) project in Jiangyin, Jiangsu province.
   Hanbon (Jiangyin) Petrochemical, which is an 85/15 joint venture between Jiangyin Chengxing Industrial Group Co., Ltd. and Hongkong Hanbon Petrochemical Co., Ltd., started construction on the 600 000 t/a PTA project in November 2007, with a total investment of RMB2.77 billion. The PTA project originally scheduled to complete at the end of 2009 is postponed to go on stream in March 2010. (CCR2007 No. 34)