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, SP Chemicals (Taixing) Co Ltd, a wholly owned China subsidiary of Singapore-based SP Chemicals Pte 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 USD521.9 million and the total investment is RMB11.0 billion as of December 2021. The company generated RMB13.6 billion of revenue in 2021 and employs more than 2000 employees.