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.
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