In 1995, a group of Singapore investors started a chemical business in Taixing City, PRC with an initial capital investment of USD29.5 million. As a result, Singapore holding company, SP Chemicals Pte Ltd and its wholly owned China subsidiary, SP Chemicals (Taixing) Co Ltd, were established.
Today, SP Chemicals (Taixing) has transformed itself from a chlor-alkali manufacturer into a petrochemical manufacturer with more than two decades of continuous expansion through the company’s own resources. The company now produces ethylene, propylene, styrene, vinyl chloride monomer, caustic soda, chlorine, hydrogen and other chemical raw materials. Its paid-up capital has increased to USD472 million and the total investment is RMB10.3 billion as of December 2020. The company generated RMB10 billion of revenue in 2020 and employs about 1800 employees.