Keyuan To Build New Petrochemical Facility In China

Law360, New York (January 19, 2012, 2:34 PM EST) -- Keyuan Petrochemicals Inc., a Chinese petrochemical manufacturer backed by private equity firm Prax Capital, is boosting its output with the construction of a new production facility in southern China, the company announced Thursday.

Keyuan signed a cooperation agreement with local authorities in Fangchenggang, a city that borders Vietnam, to build a thermoplastic petrochemical factory that will expand its product base and market access.

“This new project is an important component of our long-term growth strategy,” Keyuan CEO Chungfeng Tao said.

The new factory will produce 400,000...
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