Last updated at: (Beijing Time) Friday, March 29, 2002
Sino-British Ethylene Project Kicked Off in Shanghai
Construction of a Sino-British 900,000-ton ethylene production plant, at a cost of 2.75 billion U.S. dollars, began Thursday in the Shanghai Chemical Industrial Zone.
Sino-British Ethylene Project Kicked Off in Shanghai
Construction of a Sino-British 900,000-ton ethylene production plant, at a cost of 2.75 billion U.S. dollars, began Thursday in the Shanghai Chemical Industrial Zone.
This marked the beginning of the major cooperation four months after the establishment a joint venture between the China Petroleum and Chemical Corporration and the British Petroleum.
The facilities, by in operation in mid 2005, will produce 600,000 tons of polyethylene, 250,000 tons of polypropylene and 300,000 tons of polystyrene per year.
The project is the largest ethylene joint venture in China and is expected to improve the competitiveness of China's petrochemical industry.
Statistics show that last year China's supply of ethylene only met 55 percent of the domestic demand, which is likely to hit 13 million tons by 2005.