Sinopec, Hainan govt to speed up 1m tonne/year ethylene project

16 December 2011 07:56  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Sinopec has signed a framework agreement with the Hainan government to speed up the construction of the 1m tonne/year ethylene project at Yangpu in Hainan province, the provincial government said on Friday.

According to a statement on the Hainan government’s website, construction of the project is expected to be completed within the period of China’s 12th five-year plan (2011-2015).

The project was previously expected to break ground in 2010.

Financial details about the project were not immediately available.

The agreement, which was signed on 14 December, also aimed to accelerate the construction of refined oil and crude oil commercial storage projects in Hainan, according to the statement.

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By: Adele Zhu

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