The work on Qenos’ ethane capacity-expansion project, in the west of Melbourne, finished recently, at a cost of $195 million by Qenos in 2010. The expansion will increase the high density polyethylene (HDPE) production capacity by 20 percent, to meet market demand in Australia. Denis Napthine, the governor of the state of Victoria, Ross McCann, the CEO of Qenos and a member of the board of directors at Bluestar, and Jonathan Clancy, Qenos CEO, were on hand for the press conference, along with shareholders, important clients and raw material suppliers.
Napthine told the gathering that, “The State of Victoria is a major manufacturing hub in Australia, with 300,000 workers and this expansion will create hundreds of jobs and ease local unemployment problems.”
This project is also a testament to the Chinese company’s trust in Qenos workers and its advanced technology and can stand as a paragon of cooperation between China and Australia.
Qenos supplies raw materials to hundreds of polyethylene plants in Australia and the expansion project will reduce the country’s dependence on HDPE imports, which are usually higher in price. It will also boost the local economy and manufacturing in the western part of Melbourne.
Clancy concluded by saying that the investment speaks volumes about people’s confidence in the manufacturing business and the economy of the state of Victoria and he thanked ChemChina and Bluestar on behalf of Qenos for its support.