Sinopec in $4-B petrochemical JV with Taiwan firm
11/9/2016 9:05:05 AM
(Reuters) A subsidiary of top Asian refiner Sinopec Corp. has officially launched a 50-50 JV with a Taiwanese company to build a petrochemical complex in southeast coastal Fujian province, Sinopec said Wednesday.
The JV involves Taiwanese firm Dynamic Ever Investments Ltd. and Fujian Petrochemical Co., which is 50% owned by Sinopec Corp.
The project includes a 1 MMtpy ethylene plant and other downstream units that will cost an estimated $4.09 B.
Fujian provincial regulatory approval was granted in January, 2016 and the JV contract signed in May, 2016.
The project will be constructed in the Gulei petrochemical industrial park of Zhangzhou city.
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