Sumitomo in Deal to Acquire 25% Stake In Cepsa's Shanghai Petchem Project

摘要

Shanghai— Sumitomo has entered into an agreement with Cepsa to acquire a 25% interest in Cepsa Quimica China, which is nearing completion of a petrochemical complex in Shanghai, China. The project, "currently undergoing the final phases of construction," will have the capacity to produce 250,000 t/y of phenol, 150,000 t/y of acetone and 360,000 t/y of cumene, said Sumitomo. It will also make Cepsa the second largest producer of phenol in the world.