20 February 2012 10:45 [Source: ICIS news]
SINGAPORE (ICIS)--China National Chemical Engineering Group Corp (CNCEC) said on Monday it has signed a deal to build a methanol-to-olefins (MTO) project of Pucheng Clean Energy Chemical in Shaanxi province worth yuan (CNY) 2.93bn ($465m).
The MTO project, which would take 26 months to complete, is expected to produce 700,000 tonnes of olefins, CNEC said in a filing to the Shenzhen Stock Exchange.
Other details of the project were not immediately available.
Pucheng Clean Energy Chemical is a holding company of Shaanxi Coal and Chemical Industry Group.
($1 = CNY6.30)
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|