Oxo derivatives are used in automotive, construction, cosmetics, pharmaceutical and personal care products.
The move is said to provide a boost to Oxea’s growth strategy in China.
Oxea Marketing and sales executive board member Miguel Mantas said the plant will produce Oxea’s specialty esters, phthalate-free plasticizers and other oxo derivatives in the first step.
"The new plant will enable Oxea to better serve the steadily growing high demand for our products in China and Asia and at the same time further strengthen Oxea’s leading global market position," Mantas added.