China's Ningxia Baofeng Energy to start CTO project from Feb 2013
14 November 2012 06:26 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China's Ningxia Baofeng Energy plans to start its coal-to-olefin (CTO) project at Ningxia Hui Autonomous Region from the end of February 2013, a company source said on Wednesday.
The project, which will cost yuan (CNY) 14.15bn ($2.3bn), is expected to produce 300,000 tonnes/year of polyethylene (PE) and 300,000 tonnes/year of polypropylene (PP), the source added.
The company signed a CNY300m construction contract with China National Chemical Engineering Co (CNCEC) on 12 November to build the 300,000 tonne/year PE unit, according to a source from CNCEC.
The PE unit is likely to be completed at 30 April 2014, the CNCEC source said.
Further details about the project are not available immediately.
($1 = CNY6.23)By: Viola Pan+65 6780 4359
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