BP Amoco-Sinopec to up ethylene capacity

03/13/2000
BP Amoco PLC and a unit of China National Petrochemical Corp. (Sinopec) have agreed to boost planned capacity at their proposed Shanghai ethylene complex by a third to 850,000 tonnes/ year.The increase, designed to accommodate faster-than-expected growth in ethylene demand in East China, will jump the project's price tag by a third as well, to a total of $3 billion.BP Amoco and Sinopec affiliate Shanghai Petrochemical Corp. (SPC) signed a memorandum of understanding in October last year in London to build an ethylene cracker in Shanghai.Although ownership has not yet been finalized, an earlier report said the two companies would each hold 50% in the plant.The partners began a feasibil...
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