Industrial Info Resources

April 12, 2007 05:45 ET

Sinopec Looks for Foreign Investment Partners in $1.9 Billion Ethylene Project

JOHANNESBURG, SOUTH AFRICA--(CCNMatthews - April 12, 2007) - Researched by Industrial Info Resources (Sugar Land, Texas). China Petroleum and Chemical Corporation (Sinopec) (NYSE:SHI) is talking to a number of foreign companies about investment in its $1.9 billion ethylene plant project at the Wuhan Petrochemical complex. Although approval for the project has been given by the state's top planning body, the National Development and Reform Commission (NDRC), Sinopec has already invested in ethylene plants in Tianjin and Zhenhai and is stretched for project investment capital.

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