China's National Development and Reform Commission has granted approval for PetroChina to build a US$2.5 billion ethylene plant at Sichuan Province's capital city of Chengdu. The new ethylene cracker, scheduled for completion by 2010, has a design capacity of 800,000 tpa of ethylene. PetroChina will take a 51% stake in the new plant, with local firm Chengdu Petrochemical Co. Ltd., a project company established and owned by the local government of Chengdu, holding 49%.
31-Dec-05 
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