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China's State Council, the country's highest decision-making body, has approved a plan by China Petroleum & Chemical (Sinopec) to build a 1 million-metric-ton-per-year ethylene cracker in Tianjin, 60 miles southeast of Beijing. In the mid-1990s, Dow Chemical had considered becoming a partner in a similar project in Tianjin. In recent years, though, high profits at Sinopec have boosted its ability to undertake large projects on its own.
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