BP, Europe's biggest oil company and China's leading oil refiner Sinopec, have announced the successful expansion of their acetic acid plant- Yangtze River Acetyls Co Ltd (YARACO), in Southwest China by 75% through a further investment of 1.2 billion yuan (US$148 million). This hikes up acetic acid capacity at YARACO to 350,000 tpa.
An initial investment of 1.6 billion yuan (US$197 million) was made by BP and Sinopec to purchase production facilities for 200,000 tpa of acetic acid and 80,000 tpa of esters. BP holds a 51% stake in the venture and Sinopec owns 44% through its local subsidiary in Sichuan Province, a local investment company in Chongqing holds the balance 5%.
01-Dec-05 
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