Chinese chemicals giant Sinopec (Beijing; www.sinopec.com) and South Korea’s SK Group (Seoul; www.sk.com) are continuing to discuss an 800,000 t/y ethylene project in Wuhan / China. The two companies signed a memorandum of understanding (MOU) to enhance their strategic partnership, which includes the proposed ethylene project. “Based on the MOU, the two companies will continue discussing the co-investment in the 800,000 t/y ethylene project in Wuhan,” Sinopec said in a statement. Further details of the project were not disclosed.

Sinopec and SK Group have been discussing the joint venture project for several years. SK said in 2008 that it would hold a 35% equity stake in the venture – see Plasteurope.com of 17.06.2008. The companies already have a joint venture solvents plant in Shanghai / China, which is operating smoothly, Sinopec said.