22 June 2011 10:31 [Source: ICIS news]
GUANGZHOU (ICIS)--China’s Zhejiang Hengyi Group plans to build a yuan (CNY) 4bn ($618m) petrochemical complex at Akesu in Xinjiang province, a local government official said on Wednesday.
Natural gas will be used as a feedstock for the complex, he added.
“The project is under preliminary study at present. Xinjiang is a remote area and the project’s investor needs to ascertain where to get its resources, where the markets are and how to transport its output,” said the source.
The complex will be situated at the Zhejiang Industry Park, which was established by Akesu to house projects by companies from Zhejiang province, he said. He added that facilities such as coal chemical, polyvinyl chloride (PVC), soda ash and polysilicon plants will be built in the park. The 150km2 park will also include a large textile city.
“Xinjiang has vast resources and natural gas is affluent and cheap here, which is especially attractive to investors,” the official said.
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections