Belgian company SOLVAY (consolidated turnover of EUR 7.6 bn in 2003 with workforce of 30,000 in 50 countries) and NCI-NANJING CHEMICAL INDUSTRIES, a subsidiary of SINOPEC-CHINA PETROCHEMICAL CORPORATION, have announced that they have signed a letter of intention to set up a joint venture to use a bicarbonate soda unit belonging to NCI in Lianyuangang in China.