Sinopec, SK mulling China ethylene joint venture
12/2/2011 12:00:00 AM
By CHESTER YUNG
China Petroleum & Chemical Corp. (SNP), or Sinopec, said Friday that it has signed a memorandum of understanding on strategic cooperation with Korea's SK Group.
Based on the MoU, the two companies will continue to discuss joint investment in an 800,000 tpy ethylene project in Wuhan in central China, Sinopec said in a statement.
Asia's largest refiner by capacity said both companies will further expand the scope of cooperation and enhance their strategic partnership.
In 2004, Sinopec and SK Group together invested $26.5 million in building a 60,000 tpy specialized solvent oil facility in Shanghai, the Chinese refiner said.
Dow Jones Newswires
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