On April 20, Fibre2fashion had written about a proposal by the Chinese petrochemical sector to set up 12 large scale ethylene capacities. PetroChina and Sinopec are reportedly in the race to set up massive new ethylene capacities.
Fibre2fashion spoke to Mr Zheng Baomin, Director (Investor Relations) at Sinopec, who said, “Sinopec's plans to increase ethylene production further and the output for the year will be raised to about 6.83 million metric ton”.
He though did not divulge any plans with regards to setting up new plants; however, he confirmed the news of a fall in ethylene production at Sinopec's naphtha cracker plants last year by 3.7% to 6.289 million tons.
He also refused to confirm news of Yangtse Petrochemical Co., Ltd., a subsidiary of Sinopec, planning to set up a green field naphtha cracker plant of 600,000 tons per annum at an investment of nearly 10 billion Yuan.
Fibre2fashion News Desk - India
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