INEOS, Sinopec break ground on 650,000 t/year phenol/acetone unit

23 September 2013 17:39  [Source: ICIS news]

LONDON (ICIS)--INEOS Phenol and Sinopec’s Yangzi Petrochemical Company said on Monday that they have broken ground on what is expected to be China’s largest phenol/acetone production plant.

To be constructed in Nanjing, the facility will have a capacity of 400,000 tonnes/year of phenol and 250,000 tonnes/year of acetone, as well as 550,000 tonnes/year of cumene, the company said.

The companies said that they have established a 50/50-owned joint venture company with a total investment of around $500m, with annual sales revenues expected to be around $800m. The plant is expected to be onstream by the end of 2016.

The project achieved regulatory approval from the National Development Reform Commission (NDRC) on 27 August this year, the companies added in a joint statement.

A source told ICIS in June this year that 70% of the phenol and acetone material produced at the site would be for the local market, and 30% would be for neighbouring markets in  eastern China.

By: Tom Brown
+44 208 652 3214

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