Shanghai to Build 900,000-ton Ethylene ProjectA 900,000-ton ethylene project, involving a total investment of 2.7 billion US dollars, will start construction in September.The project involves investment from China Petrochem, China Petrochem Shanghai branch and British Petroleum (BP). John Brown, president of BP, which accounts for half of the investment, made this announcement here Tuesday. Apart from building equipment to produce 900,000 tons of ethylene, the project will also have other facilities to build related products exceeding a million tons in annual production. The project will become operational in June 2005. The Caoting Chemical Industrial Zone, where the project is located, will also host a dozen other large projects in cooperation with global giant corporations in the coming five years. |
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