PetroChina may scrap Sichuan cracker plan

15 May 2008 09:22  [Source: ICIS news]

SINGAPORE (ICIS news)--PetroChina may scrap its plan to construct an ethylene cracker in Chengdu, following the devastating earthquake that hit Sichuan province in southwest China earlier this week, a company official said on Thursday.

The company intends to drop plans to construct a new 800,000 tonne/year ethylene plant, costing CNY 20bn ($2.9bn), if studies conclude that the site is prone to natural disaster.

A similar plan to build a new 10m tonne/year oil refinery, costing CNY 50bn, in the same location is also under review, she added.

PetroChina signed a strategic framework agreement with the Sichuan provincial government in March 2007 to build the two plants.

Meanwhile, PetroChina said that 56 of its workers had been injured in the Sichuan quake, while another six are missing.

($1 = CNY7.00)

By: Cheang Chee Yew
+65 6780 4359

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