Sinopec to speed up work on CTO project in China
The parties stated that they would increase their cooperation to ensure the environmental safety and vowed to speed up the work on the construction of the CNY16.7 billion ($2.4 billion) project.
The planned project will include a 1.8 million tons/year coal-to-methanol (CTM) unit, a 600,000 tons/year methanol-to-olefins (MTO) unit, a 350,000 tons/year PP unit and a 300,000 tons/year PE unit.
Although the company did not reveal the current schedule for the construction, market sources reported that the construction is likely to start in 2019 to be completed in three years.
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