Sinopec to acquire stake in petrochemical company owned by GS Aromatics

Sinopec is to acquire stake in the petrochemical company owned by GS Aromatics with 60% stake. South Korea's GS Aromatics has signed a joint investment agreement with China's Sinopec Corp to co-manage Qingdao Lidong Chemical Co Ltd. Qingdao Lidong Chemical, which started commercial production in 2006, has an annual capacity of 1.1 mln tons of aromatics.
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