DuPont signs China project agreement
Mon Nov 21, 2005
NEW YORK (Reuters) - DuPont Co. (DD.N: Quote, Profile, Research), the No. 2 U.S. chemicals maker, on Monday said it reached a project agreement with the city of Dongying, China, which it characterized as a key step toward construction of a titanium dioxide plant in the city.
The company said that the plant still needs government approval. Total investment in the plant by DuPont, its suppliers and the city is expected eventually to be about $1 billion.
DuPont said it plans for the plant to be completed in 2010 and have an initial capacity of 200,000 tons of titanium dioxide.
© Reuters 2005.