09 January 2013 09:43 [Source: ICIS news]
SINGAPORE (ICIS)--China National Chemical Engineering Co (CNCEC) has agreed a deal with Xinjiang Xinye Energy Chemical to build a 1,4-butanediol (BDO) and methanol project, a source at CNCEC said on Wednesday.
The project is valued at yuan (CNY) 2.27bn ($364m), according to a statement CNCEC filed with the Shanghai Stock Exchange (SSE).
The project at Wujiaqu city in Xinjiang is expected to be completed in August 2015 and will include a 250,000 tonne/year methanol unit, the source said.
Sedin Engineering Co, a wholly owned subsidiary of CNCEC, signed the agreement with Xinjiang Xinye, the statement showed.
However, the specific capacity of the BDO unit and other details were not immediately available.($1 = CNY6.23)
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|
Asian Chemical Connections