BP Amoco's China jv opens acetic acid plant
18 January 1999 12:07 [Source: ICIS news]
LONDON (CNI)--BP Amoco announced Monday that its Chinese joint venture company Yangtze River Acetyls (YRA) has officially opened a 150 000 tonne/year acetic acid plant at Chuanwei, near Chongqing in southwest China.
YRA completed the $200m (Euro172.5m) plant on time and to budget next to petrochemcials company Sinopec's Sichuan Vinylon Works (SVW). The joint venture is owned 51% by BP Amoco, 44% by Sinopec and 5% is held by the Chongqing Investment and Construction Company.
Peter Sutherland, BP Amoco's chairman, said: "The successful completion of this project, BP Amoco's largest single onshore investment in China, demonstrates the excellent partnership we have forged with Sinopec and provides a firm foundation for further co-operation as the Chinese chemicals industry develops."
BP Amoco said the acetic acid market in China is developing at an annual rate of about 6% and YRA is "well placed to consolidate and grow its business".
Bryan Sanderson, chairman of BP Amoco Chemicals, said of the strategic investment: "Chuanwei presented an ideal opportunity for our acetyls business. Gas and methanol feedstock is available from SVW, there is a skilled local workforce and the site is well situated to supply acetic acid to customers in the interior of China."
Project design was undertaken by Germany's Lurgi as well as China's Lanzhou Design Institute in Gansu province and the Sichuan Design Institute. Installation work was carried out by the No 4 (FCC) Sinopec Company of Tianjin, which was supported by the Beijing Petroleum Engineering Company. Construction was performed mostly by the No 8 Construction Company, based in Chongqing. Project management was by BP Amoco and SVW/Sinopec.
By: Patrick Reynolds
+44 208 652 3214
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