Fujian Gu Lei proceeds with $15 billion petchems project

摘要

Fujian Gu Lei Petrochemical Corp., a previously announced petchems joint venture between Sinopec and Taiwanese petchems producers in mainland China, broke ground on a Rmb95.5 billion ($14.73 billion) ethylene plant with the capacity for 1.2 million m.t./year. The partners are Fujian Refining and Petrochemical Corp., a 50-50 joint venture between Sinopec and the Fujian Province Government, Dynamic Ever Investments Ltd, and a Taiwanese consortium The ground-breaking ceremony marked the second step, together with the detailed feasibility report, which will form the basis of the formal permitting.