Oil giant PetroChina Co. Ltd. has begun building a 21 bln yuan (US$2.6 bln) petrochemical complex in the country's landlocked southwest- and important step to develop its western region as well as its energy supplies. The project received approval to construct the plant in December last year. PetroChina which holds a 51% stake in the project and Chengdu Petrochemical Co Ltd. owns 49%, got approval to construct the plant in December last year.
The 800,000 tpa ethylene plant, to be completed by 2010 in Chengdu will be the second-largest such project in China's remote western regions, the country's economic backwaters.
28-Feb-06 
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