SOURCE: Industrial Info Resources

July 16, 2008 08:15 ET

Sinopec to Build 800,000-Ton Ethylene Project in Hainan Province, an Industrial Info News Alert

BEIJING--(Marketwire - July 16, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- China Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing) will build an 800,000-ton-per-year ethylene project in central China's Hainan Province. The company will invest $4.3 billion in this and other projects to form the largest petrochemical base in central China. South Korea's SK Chemicals Company (SEO: 006120) is said to have signed an agreement with Sinopec to hold 35% of the shares.

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