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position: > Home > News > Industrial News >
Sinopec, Mitsui Chemicals Form Petrochemical Joint Venture In China
Pubdate:2012-05-30 10:09
Source:Wall Street Journal
Click:119 times
China Petroleum & Chemical Corp. (0386.HK), or Sinopec, said Tuesday it has formed a joint venture with Mitsui Chemicals Inc. (4183.TO) for the development of a petrochemical project in China.
Shanghai Sinopec Mitsui Elastomers Co., a 50:50 joint-venture between the two firms, will build an ethylene-propylene-diene terpolymer production plant in Shanghai Chemical Industry Park with annual production capacity of 75,000 metric tons, Sinopec said in a statement.
The total investment of the project is CNY2 billion (US$317 million) and commercial production is expected to start in the first quarter of 2014, the statement said.
Mitsui chemicals wasn't immediately available for comment.