China’s Sinopec to build JV coal-to-chemical project in Henan

08 December 2011 05:03  [Source: ICIS news]

SHANGHAI (ICIS)-China’s petrochemical giant Sinopec is planning to build a joint venture (JV) 1.8m tonne/year coal-to-olefins project in Henan province, central China, a source close to the company said on Thursday.

Sinopec and Henan Coal Chemical Group will set up a joint coal-to-chemical company, which will be 51% owned by Sinopec, according to the source.

The coal-to-olefins project will cost an estimated yuan (CNY) 21bn ($3.30bn), the source said, without providing further details.

“We have not decided on the construction date because it is still in the initial process,” the source said.

($1 = CNY6.37)

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By: Dolly Wu
+65 6780 4359

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