12 Mar 2025
Chinese chemicals producer to establish 30ktpa facility under JV agreement with affiliate Gold Dynasty
Shanghai, China – Red Avenue New Materials Group is planning to build a rubber chemicals production unit in Thailand, the Shanghai-based group said in an 8 March filing.
The project, it stated, will be delivered by a 51%/49% joint ventutre between group subsidiary Hongkong Tongcheng and its affiliate company Gold Dynasty Ltd.
Total investment of the project is Yuan500 million (€64 million), of which Hong Kong Tongcheng is investing about Yuan259 million, according to Red Avenue.
Located in Rayong, the Thai unit will have a production capacity to produce 30 kilotonnes per annum (ktpa) of chemicals, and is slated for completion by the end of 2027.
Red Avenue said the move is aimed at optimising its 'strategic layout' and will enable it to integrate industrial and market resources to meet growing overseas demand.
Founded in 1999, Red Avenue is a major producer of rubber additives, tackifying resins, processing aids and accelerators, as well as other speciality chemicals.
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