ChemChina lines up 50b yuan investment

China National Chemical Corp (ChemChina) is planning to invest 50 billion yuan to build a large production site in Tianjin over the next five years.

The chemicals producer is also planning to have 10 production sites nationwide, including Shenyang in Liaoning, Nantong in Jiangsu and Chengdu in Sichuan, Ren Jianxin, president of ChemChina told China Daily in an exclusive interview.

ChemChina is investing 26 billion yuan in the next three years for the Tianjin facility, said Ren. It will focus on the production of new chemical products.