By the OGJ Online Staff
HOUSTON, Sept. 4 -- BP Chemical Investments Ltd., China Petrochemical Corp. (Sinopec), and Shanghai Petrochemical Corp. have signed a joint venture agreement to build an ethylene cracker and derivatives complex in Shanghai.
The Chinese government has approved a feasibility study for the project (OGJ Online, Aug. 30, 2001).
The three parties (Sinopec Corp. 30%; SPC 20% and BP 50%) plan to produce 900,000 tonnes/year of ethylene, plus polyethylene, polypropylene and polystyrene production of more than 1 million tonnes/year. Styrene monomer, acrylonitrile, and other olefins derivatives units will also be built.
