Sinopec Shanghai Petrochemical to invest $2.9 B to upgrade Chinese operations
1/14/2025 12:00:00 PM
Sinopec Shanghai Petrochemical Company plans to invest more than $2.9 B to upgrade its operations. To maintain its capacity in crude oil processing and make other operational upgrades, the company will shut down existing 18 sets of oil refining devices and install new ones. The new installations will have a capacity to refine 1.2 MMtpy of ethylene.
The company expects to complete the construction of the main project in a span of three years, subject to approval of its shareholders.
Sinopec Shanghai Petrochemical said the project will improve the variety and production capacity of its new material products and increase the production of raw materials.
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