China Glass Holdings Ltd announced 14 May that it planned to set up a glass plant in Dongtai, Jiangsu Province, with its wholly-owned subsidiary Jiangsu Suhuada New Materials Co. Ltd. The venture, with a total investment of CNY 800M, will focus on producing low-e glass. China Class will take a 70% stake in the new venture with an investment of CNY 560M and Suhuada New Materials will take the other 30% with an injection of CNY 240M. The project will be completed in two phases. Construction of the first phase is scheduled to start in the 3Q 2008 and is expected to be completed in the 2Q 2009 with a designed production capacity of 1,200/tpd. The second phase will start construction in the 2Q 2009 and is expected to be completed within a year with a daily production capacity of 600 tons.
