Chinese/BP Chemicals' petchem project, investments exceed $ 2 bn

Dec 24, 1996 01:00 AM

The framework of a Chinese joint petrochemical complex project involving BP Chemicals has been formed. More than $2 bn of investment in the project will be put up on a 50-50 basis by the British company and its Chinese partners, SINOPEC and Shanghai Petrochemical. The complex will be located in Jinshan, where Shanghai Petrochemical is operating, and will comprise a 650,000 tpy ethylene centre and plants for polyethylene, acrylonitrile (AN), styrene monomer and polystyrene. With completion slated for 1999, the AN plant will be built prior to the other plants.
The Chinese complex project will be the largest one of BP Chemical's strengthened investments in Asia. The company has in South Korea a joint acetic acid production venture with that country's Samsung General Chemicals, and its Chinese joint acetic acid venture is building a 150,000 tpy plant in Sichuan Province. In Indonesia, its joint PE-venture with Salim Group (Indonesia). Mitsui & Co. and Sumitomo Corp. (Japan) will construct a large-scale plant.

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