Solvay and Shinkong Synthetic Fibers Corporation announced that they have agreed upon the creation of a new joint venture, Shinsol Advanced Chemicals, for the development, production and marketing of electronic grade hydrogen peroxide. The joint venture is scheduled to begin operations in the first quarter of 2023 and will be located close to the Southern Taiwan Science Park near Tainan. The company aims to serve the booming Taiwan semiconductor industry with this indispensable chemical agent for the production of integrated electronic circuits and will have an initial production capacity of 30,000 tons per annum - which can easily be increased at a later stage, in line with market demand.