05-04-05 China Petroleum & Chemical Corporation (Sinopec), a state-controlled company in China, announced on March 29 that it planned to totally invest CNY 41.6 bn in upgrading the ethylene productivity of its two refineries in the future.
The board of directors of Sinopec recently approved the feasibility study report on increasing the ethylene productivity of two refineries respectively in Tianjin Municipality and Zhenhai District of Ningbo City in Zhejiang Province.

Sinopec is likely to inject an investment of CNY 20.1 bn in Sinopec Tianjin Company, a petroleum and chemical branch of Sinopec, so as to make the annual output capacity of ethylene reach 1 mm tons.
Sinopec is estimated to invest CNY 21.5 bn in Sinopec Zhenhai Refining & Chemical Co., aiming to reach the same output mentioned above. Moreover, currently three big ethylene projects of there joint ventures are under construction in China.