SINOPEC
BDO and acetic acid project planned in China / Joint venture with BP and SK Global
BP Chemicals (London / UK; www.bp.com), Sinopec Sichuan Vinylon Works Group (SVW, Chongqing / China; www.sinopecgroup.com) and SK Global Chemical (Seoul / South Korea; www.skchem.com) plan to build an integrated BDO and acetic acid project in Chongqing. The companies signed a memorandum of understanding (MOU) to build the project on 22 February.
The BDO plant, with a 200,000 t/y capacity, will be built by SK Global and SVW, while the acetic acid plant, with a 600,000 t/y capacity, will be built by Yaraco, a joint venture between BP (51%), SVW (44%) and Chongqing Energy Investment Group (5%).
Sinopec said the project, located in the Chongqing Changshou Economic and Technological Development Zone, is expected to cost CNY 7 bn (EUR 823m) and generate total annual revenues of more than CNY 2 bn (EUR 235m). The companies are targeting the phased completion of the project at the end of 2014 / early 2015. The plants will be inter-dependent on feedstock supplies. The BDO plant will supply acetylene off-gas to the acetic acid plant, which in return will supply hydrogen to the BDO plant.
The BDO plant, with a 200,000 t/y capacity, will be built by SK Global and SVW, while the acetic acid plant, with a 600,000 t/y capacity, will be built by Yaraco, a joint venture between BP (51%), SVW (44%) and Chongqing Energy Investment Group (5%).
Sinopec said the project, located in the Chongqing Changshou Economic and Technological Development Zone, is expected to cost CNY 7 bn (EUR 823m) and generate total annual revenues of more than CNY 2 bn (EUR 235m). The companies are targeting the phased completion of the project at the end of 2014 / early 2015. The plants will be inter-dependent on feedstock supplies. The BDO plant will supply acetylene off-gas to the acetic acid plant, which in return will supply hydrogen to the BDO plant.
28.02.2012 Plasteurope.com [221688-0]
Published on 28.02.2012