May 9, 2012 [ICIS] - US-based Dow Chemical and China’s Dragon Crown Group will be investing $200m (€154m) in a planned joint chemical terminal project in Tianjin, a source from the US chemical giant said on Wednesday.
The project, which will have a total throughput capacity of 6m-9m tones/year, is due for start-up in 2016.
Dow and Dragon Crown have signed a memorandum of understanding (MoU) in July 2011 on a joint venture that will build the chemical terminal facilities at the Tianjin Nangang Industrial Park.
Dragon Crown will hold an 80% stake in the joint venture, while Dow will own the remaining 20%, the source from Dow said.
Dragon Crown is one of the leading providers of integrated storage and terminal services for liquid chemicals in China.
