BIZCHINA / Overseas Investment
IFC, BPEAG to invest US$130m in Dongyue Chemical
(Xinhua)
Updated: 2007-06-05 11:37
International Finance Corporation (IFC) and Baring Private Equity Asia
Group (BPEAG) will jointly invest 130 million U.S. dollars in Shandong
Dongyue Chemical Co. Ltd (SDC).
According to an agreement signed here by the three parties, IFC and BPEAG
will hold a 27.3-percent stake in SDC.
Related readings:
IFC invests US$600 million in China in 2007
CCB signs deal with IFC on global trade
Finance: IFC to build hydropower stations
SDC, the largest green refrigerant producing base in the world, with an
annual output of 60,000 tons, has just launched a project capable of
producing 400,000 tons of organosilicon before 2010.
"SDC will use the investment to increase its production capacity and
develop the organosilicon project," said SDC board chairman Zhang
Jianhong.
IFC serves as the private sector investment arm of the World Bank Group
and has invested in more than 100 projects in China.
(For more biz stories, please visit Industry Updates)
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