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News Flash
Sinopec sets up 800,000 tpy ethylene plant in China
02 Jan '13
1 min read
China’s leading refiner Sinopec Corp has finished setting up a 17 billion yuan or US$ 2.7 billion ethylene plant in Central China, Xinhua news agency reported.
It took about five years for Sinopec, which contributes about two-thirds of China’s total ethylene production, to set up the 800,000 tons per year (tpy) plant on Yangtze river in Wuhan city, the first petrochemical hub to come up in Central China.
Sinopec’s ethylene production dipped 4.1 percent year-on-year during the first six months of 2012. Last year, Sinopec’s ethylene output had grown by 9.2 percent year-on-year.
About 50 percent of China’s domestic demand of ethylene is currently met through imports and the country is eagerly looking forward to reduce this proportion.
China is expected to add around 7.5 million tpy ethylene capacity during 2011-2015.
Fibre2fashion News Desk - China
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