SHANGHAI, China, Dec. 17 /Xinhua-PRNewswire/ -- Shanghai Jinshan District
Government announced today that Shanghai Chemical Zone located in Caojing Town
of Jinshan District, will make more effort to create business leads for more
companies and invest more in the development of fine chemicals, as well as
integrating the upper, middle and lower stream products of ''oil refining,
petrochemicals and fine chemicals''.
    The project, capable of an annual production of 900,000 tons of ethylene,
is a joint effort of BP and China Petroleum & Chemical Corporation (China
Petrol). The tetrahydrofuran project, invested in by BASF, will be completed
next year.  The MDI and TDI projects -joint investment of BASF, Huntsman
Corporation, China Petrol and Huayi Company- will be ready for operation in
2006 as planned.  Some HDI and MMDI projects have already been inaugurated one
after another.  As a result, a complete product chain composed of upper stream
products, such as ethylene cracking and middle and lower stream products, such
as isocyanate and polycarbonate, have taken form.
    Also settled down in the Chemical Zone is a German company Degussa, and
Shanghai 3F New Materials Co., Ltd.
    Eight years ago, Shanghai municipal government formally decided to build
a world class Chemical Zone in Caojing Town of Jinshan District.  The
municipal leaders pointed out, as a large industrial city and economic center,
Shanghai must be supported by a large scale petrochemical deep-processing
industry.  So Shanghai must press on to construct a robust petrochemical deep-
processing industry, characterized by high-grade, high-precision advanced
technology, which would be the new point of economic growth for Shanghai.

    About Jinshan District
    Jinshan, one of the 19 districts (counties) of Shanghai, is located in the
southwest of the city, north of the Hangzhou Bay and west of Zhejiang Province.
It is situated at the hub of the economic region linking Shanghai, Hangzhou
and Ningbo, and is inside the geographic ring of the Yangtze River Delta that
is only a two hours drive away.
    Jinshan District has a total land area of 586 square kilometers (about 226
square miles), equivalent to that of Singapore, and a population of 550,000.
It has rich natural and cultural heritages, including beautiful beach lines,
famous traditional peasant paintings, black ceramic arts and crafts, and a
world-renowned petrochemical base.

    For more information, please contact:

     Wang Ren of Shanghai Jinshan District Government
     Tel:   +86-21-5792-1325
     Fax:   +86-21-5792-1100
     Email: jsqzhk@sohu.com

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