China Jan-Aug petchem investments up 35.2%

27 October 2006 05:32  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s petrochemical fixed asset investments rose 35.2% in the first eight months this year to CNY302.9bn ($38.4bn/Euro30.2bn) from the same period a year ago, an industry official said on Friday.

The growth in investment was higher than the 30.7% achieved in the year-ago period, the China Petroleum and Chemical Industry Association (CPCIA) official said, adding that there were 4,210 projects new projects, 28.7% more than previously.

During the eight months, 1,057 projects were completed while 6,533 projects were under construction, the official said.

Petroleum processing and chemical projects, worth CNY38.7bn and CNY25.3bn respectively, were completed from January to August.

Plants to produce fertiliser and rubber products, amounting to CNY27.8bn and CNY21.5bn respectively, were also built.

By: Florence Tan
+65 6780 4359

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