Solvay has announced that it has concluded an agreement with Chinese soda ash producer Tianjin Soda Ash Plant under which Solvay will invest €16 million in two steps to acquire a 30% participation in the soda ash plant built in Bin Hai near the city of Tianjin, China.
Solvay will also provide guarantees on loans, bringing the total committed and invested amount to almost €60 million. The plant, with a yearly capacity of 800,000 tonnes of soda ash and related products such as bicarbonate and 800,000 tonnes of ammonium chloride, is in the start-up phase.
Solvay will commercialise 220,000 tonnes of soda ash and 30,000 tonnes of bicarbonate yearly under its own brand name.
