The Gas Review reports that Iwatani is to construct a new CO2 plant this autumn with an investment of around Y600m, expected to be completed in the autumn of next year.
In September the company, in conjunction with Shanghai Petrochemical Investment Development, raised the capital it held in the Shanghai Petrochemical-Iwatani Gases Development joint venture from $3.59m to around $5.94m.
This would then be followed by the construction of the new plant, scheduled for completion next year.
Annual demand for carbon dioxide in the Shanghai area is now thought to have reached around 500,000 tonnes, with a perceived shortage of gas to meet demand could trigger the need for a further third plant in the future.
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