BP, Sinopec, Shanghai Petrochemical launch petrochemical JV
BP PLC, China Petrochemical Corp. (Sinopec), and Shanghai Petrochemical Corp. have revealed more details of their ethylene cracker and chemicals derivative complex planned near Shanghai.
By the OGJ Online Staff
HOUSTON, Dec. 10 -- BP PLC, China Petrochemical Corp. (Sinopec), and Shanghai Petrochemical Corp. have revealed more details of their ethylene cracker and chemicals derivative complex planned near Shanghai (OGJ Online, Sept. 4, 2001).
The $2.7 billion project should begin operation in 2005 at Shanghai Chemical Industry Park, Caojing.
The companies officially formed their joint venture Shanghai Secco Petrochemical Co. Ltd. Monday. The Chinese government has approved a feasibility study for the project (OGJ Online, Aug. 30, 2001).
The main downstream and derivatives plants are planned to produce: polyethylene (600,000 tonnes/year), propylene (590,000 tonnes/year), polypropylene (250,000 tonnes/year), styrene (500,000 tonnes/year), polystyrene (300,000 tonnes/year), acrylonitrile (260,000 tonnes/year), aromatics (500,000 tonnes/year) and butadiene (150,000 tonnes/year).
Wang Jiming, president of Sinopec Corp., said, "Following China's accession to the World Trade Organization, this project, as the central pillar of the Shanghai chemical zone, will promote and lead economic development in Shanghai and Eastern China and help bring China's petrochemical industry to a new level of performance."
Secco will tender for design and construction contracts with the aim of breaking ground in the first half of 2002.