Top Chinese refiner Sinopec and South Korea-based SK Global
Chemical formed a joint venture this week to build a butanediol
(BDO) facility in Chongqing, state-owned media Xinhua
reported on Tuesday.
The BDO plant will have a capacity of 200,000 tpy, according
to the report. The project will also include plants for
acetylene and formaldehyde.
The capacities of the latter two plants were not
Overall, the project will cost 3.8 billion yuan
($605 million), the report says.
Located in the Changshou Economic-Technological Development
Area, the project is expected to be completed by the end of
2015, Xinhua reported.
The BDO project is a milestone for Chongqing
in becoming a global natural
gas industrial base, Chongqing mayor Huang Qifan said at
the signing ceremony.