TOKYO (dpa-AFX) - Shin-Etsu Chemical Co., Ltd. (SHECY, SHECF, 4063.T), a Japanese chemicals company, said on Thursday that it has decided to boost its integrated production capabilities of its American subsidiary, Shintech Inc. with $3.4 billion investment.
The investment in this phase includes the second ethylene production unit and the fourth chlor-alkali and vinyl chloride monomer, or VCM, production plants at its existing site at Plaquemine in Louisiana.
'The decision aligns with Shintech's strategy to ensure reliable and cost-effective supply of key feedstock for the PVC Business, strengthening its position in the global markets. While pursuing this undertaking, Shintech continues to evaluate the PVC markets for next step,' the company said.
With this investment, the annual production capacities will be increased by 625,000 tons for ethylene, 500,000 tons for VCM, and 310,000 tons for caustic soda.
The completion of the construction is slated toward the end of 2030.
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