News Refining & Petrochemical China and ROK Companies Invest in Ethylene
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China National Petroleum and Chemical Corporation and ROK's SK Energy signed a framework agreement May 28, 2008, to jointly invest in a petrochemical project in China's Wuhan City. The project will involve construction of an 800,000 ton per year ethylene cracking unit.

According to the agreement, the two companies will sign a formal investment deal this year and have set an estimated running date of the project at 2011. SK is expected to take 35% of the shares in the venture.

Source: Industrial Info Resources

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