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)
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