Shanghai to expand investments in petrochem sector

Over the next three years, Shanghai plans to invest over 100 billion yuan (US$12 billion) in petrochemical projects, boosting annual oil refining capacity to 35-40 million tons by 2010 and ethylene output to 4 million tpa.In addition, the city will give priority in development to such pillar industries as new energy sources, clean energy and energy-efficient industries and new materials to boost their competitiveness.
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