15 January 2009 08:58 [Source: ICIS news]
SINGAPORE (ICIS news)--The joint venture aromatics project of China National Offshore Oil Corp (CNOOC) and Kings Group in Huizhou, Guangdong is set to come on stream in May 2009, a company source said on Thursday.
"We have just concluded a management meeting today and it has been decided to start the plant some time in May 2009," the source said.
The unit located in southern China would be able to produce 105,000 tonnes/year of benzene and 800,000 tonnes/year of paraxylene (PX). It can also produce solvent grade xylenes, toluene and aromatics-related products.
Kings Group, a conglomerate based in Zhejiang in eastern China, will hold a 40% stake in the facility, while state-owned CNOOC will have a 60% share in the joint venture project.
Kings Group is also the parent company of Hangzhou Top Polyester, a mid-sized polyester filament yarn and chip maker in Xiaoshan in the same province.
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