Issue Date: February 27, 2012
BP, Sinopec, And SK Plan China Complex
BP, Sinopec, and South Korea’s SK Holdings have signed a memorandum of understanding to build acetic acid and 1,4-butanediol (BDO) plants in Chongqing in southwestern China. The $1.1 billion project would include a 600,000-metric-ton-per-year acetic acid plant funded by BP, Sinopec subsidiary Sichuan Vinylon Works, and a state-owned investment firm. SK and Sichuan Vinylon would build a 200,000-metric-ton BDO facility. The acetic acid facility would supply hydrogen to the BDO unit, which in turn would supply acetylene to the acetic acid plant.
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