By OGJ editors
HOUSTON, Mar. 17 -- BP PLC and Sinopec Corp. have signed a joint venture contract to build a 500,000 tonne/year acetic acid plant in Nanjing, Jiangsu Province, China.
The plant, which will use BP's proprietary CATIVA technology, is expected to come on stream in the second half of 2007.
BP and Sinopec each holds a 50% equity interest in the plant. The Sinopec investment will take place through Yangtzi Petrochemical Co., a Sinopec subsidiary.