Hubei Sanonda Co., Ltd., a leading agrochemical producer in China, plans to form a joint venture with its majority shareholder Hubei Sanonda Group for building a formaldehyde facility at the Jingzhou site of Hubei province.
The proposed 51/49 joint venture between Sanonda and Sanonda Group, which is estimated to be registered with a capital of RMB10 million, intends to invest RMB35 million in construction of the proposed 80 000 t/a formaldehyde facility. The formaldehyde to be produced is to meet the demand of glyphosate production in Sanonda and surplus is for sale.
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