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Ethylene to draw in key foreign investments by 2010

26
Mar '07
Statistics forecast that by 2010 the demand for oil will reach around 455 million tons and China's domestic production capacity will be over 400 million tons. It is now the world's fastest growing major oil market.

Foreign investment is likely to flow in as potential players will be on a look out for oil sector requirements.

Numerous ethylene crackers are expected to come up and the production will soar to around 18 million tons by 2010. Ethylene output of China was 9.41 million tons in 2006, year-on-year surge of 24.5 percent.

Country's refineries will run at 90 to 95 percent capacity.

Not only state owned but also foreign investors will indulge in the development of industrial complexes.


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