>News>Company Announcement>Far Eastern New Century (FENC), the Company,plans to set up a plant to produce bio-based ethylene and monoethylene glycol (MEG)
Far Eastern New Century (FENC), the Company,plans to set up a plant to produce bio-based ethylene and monoethylene glycol (MEG)
From：
SEQ_NO
1
Date of announcement
2011/12/27
Time of announcement
17:38:44
Subject
Far Eastern New Century (FENC), the Company,
plans to set up a plant to produce bio-based ethylene
and monoethylene glycol (MEG)
Date of events
2011/12/27
To which item it meets
article 2 paragraph 15
Statement
1.Date of the resolution by the board of directors or shareholders’
meeting:2011/12/27
2.Content of the investment plan:
According to the resolution resolved by the Board,
the Company will build a plant with an annual bio-based
ethylene capacity of 220,000 tons and MEG capacity of
600,000 tons, documents regarding to the said plant are
authorized to be signed by the Chairman of the Company.
3.Anticipated date of execution of the investment:2012/04/01
4.Source of funds:Internal financing
5.Concrete purpose/objective:
In order to meet the increasing bio-based ethylene and MEG
demand from the market while to upgrade the competitiveness
of downstream products.
6.Any other matters that need to be specified:Nil
