25 October 2012 09:59 [Source: ICIS news]
SINGAPORE (ICIS)--Xinjiang International Industry is planning to build a 400,000 tonne/year natural gas-based aromatics project at ?xml:namespace>
The project in Xinjiang province would be built in three phases, the company said in a filing to the Shenzhen Stock Exchange.
Construction of the first phase of the project, which is estimated to cost yuan (CNY) 900m ($144m), will start in May 2013, the company said.
The first phase will have a capacity of 100,000 tonnes/year and will consume around 300m cubic metres of natural gas each year, it said.
Natural gas will be converted into methanol, which will be processed into aromatics, industry sources said.
Xinjiang International is mainly engaged in trading of petroleum products and coal, at present.
($1 = CNY6.25)
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