Dow invests in Yangtze River area
By Jiang Jingjing (China Daily)
Updated: 2006-06-07 10:38
But Dow's investment in the area goes beyond capital projects and
manufacturing plants.
The company is in the process of building a new
facility in Zhangjiang Hi-tech Park in Shanghai, which will initially be a
state-of-the-art research and development centre and a global information
technology service and support centre.
The facility will create about 600
new jobs by next year.
The region has played a key role in China's growth
and development over the past couple of decades, and Dow believes it has an even
more important role to play in the country's new era of growth, according to
McIlvenny.
"Meanwhile, we will continue to strengthen our production
capacity to better serve our customers in the downstream performance market with
a reliable, local supply well into the future," he added.
"We'll also
continue to explore upstream and other investment opportunities and collaborate
with partners to strengthen our leadership position in China."
Since
entering China in 1989, Dow has invested over US$500 million in the
country.
Besides the Yangtze River Delta, the Pearl River Delta and the
Bohai Bay Rim are also important markets for Dow in China.
As more
customers explore new growth frontiers in other parts of the country, Dow is
seeking to provide them with second-to-none support and solutions, McIlvenny
said.
Dow is currently exploring a programme to convert coal to olefins
and has signed an agreement with the Shenhua Group China's largest coal
producer to study the feasibility of using coal gasification in a
large-scale olefins plant.
China is now Dow's third-largest market behind
the United States and Germany in terms of sales. The firm's Greater China
revenue hit US$2.3 billion last year.
(For more biz stories, please visit Industry Updates)
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