German Auto Boost in China
Volkswagen said it has begun construction work on its new transmission
plan in Dalian. The USD400m facility will start production in 2009.
Meanwhile, Audi has announced it plans to double its sales in the China
market, to 200,000 units by 2015, in what it perceives to be its second
most important growth market after Germany. Audi's projection followed
a 25 per cent jump in China sales last year to a record 100,888 units.
BASF and Sinopec Expand Ethylene Plant
Germany's BASF and Sinopec will invest USD900m to expand a chemical
plant near Nanjing. The steam cracker, which makes ethylene, will be
expanded to 750,000 metric tonnes a year, from 600,000 tonnes. China
imports half of its ethylene and is considering doubling its domestic
production capacity to over 18 million tons by 2010. Ethylene is a key
ingredient in plastic water bottles and synthetic fibres.
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