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)
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