Royal DSM, the life sciences and materials sciences company, will build a Rmb500m new facility to replace an existing plant in Nanjing, Jiangsu province. It will make composite resins targeted at the Chinese market. Jinling DSM Resins is a joint venture in which Sinopec Assets Management holds a 25 per cent stake.

Scheduled to be operational in early 2012, the new plant will produce 100,000 tons of composite resins annually.

DSM is based in the Netherlands and is the largest producer of structural resins in Europe. The company plans to double its China sales to US$3bn by 2015.