China Sinochem Group is expected to start up a new crude processing unit and a p...
SINGAPORE - China Sinochem Group is expected to start up a new crude processing unit and a petrochemical complex in southeastern China around mid-2020, marking the state firm’s first foray into making petrochemicals, three company sources said.
It will also begin operations around June of a petrochemical plant, including a naphtha cracker that can produce one million tonnes per year of ethylene, the sources said. The 32.5 billion yuan investment is a pivotal part of Sinochem’s growth strategy. The state group is seeking a multi-billion-dollar stock listing for its energy department, and believes petrochemicals can add value to its dominant refining and oil trading business.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Says He Will Sign Phase-One Trade Deal With China on Jan. 15President Trump said he would sign the phase-one trade deal with China on Jan. 15 and will later travel to Beijing for talks on a broader pact.
Read more »
No. 5: Hong Kong Protests Rock China and LuxuryThe political protests in Hong Kong hit luxury and fashion sales hard, and worries remain for 2020.
Read more »
China cuts banks' reserve ratios again, frees up $115 billion to spur economyChina's central bank said on Wednesday it was cutting the amount of cash th...
Read more »
Indonesia rejects China's claims over South China SeaIndonesia said on Wednesday it rejected China's claims over a disputed part...
Read more »
Trump’s “Phase One” Trade Deal Leaves China With Massive AdvantageOne of the key reasons Trump launched his trade war has yet to be resolved.
Read more »