China Petrochemical Corp (Sinopec) and China National Petroleum Corp (Petrochina) are in talks with companies in the Middle East to set up a joint venture ethylene facility. A partnership is being considered with a state-owned oil firm such as Kuwait Petroleum, Saudi Basic Industries or Saudi Arabian Oil The facility will be located in the region at an estimated investment outlay of US$5 bln. The Chinese plan to finalize a plan by year-end or early 2009.
19-May-08 
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