Sinopec, Mitsui Chemicals to build 2 plants worth 楼60 bln

Nov. 4, 2009 (China Knowledge) - A chemical subsidiary of Sinopec<600028><0386><SNP> and Japan's Mitsui Chemicals plan to jointly spend ¥60 billion to build two plants in Shanghai that will produce resins and synthetic rubber, sources reported.

The two partners plan to build a ¥40-billion phenol plant that will start production in the spring of 2013. It will  produce an estimated 250,000 tons a year. The two partners will also invest ¥20 billion to build a synthetic rubber plant by the end of 2013. It will have an annual output of 75,000 tons.
 
In April 2006, Sinopec and Mitsui Chemicals set up a 50:50 joint venture and started construction on a Bisphenol A plant, which went into operation in January 2009 and has a designed annual output of 120,000 tons.

Reportedly, Songnan gas field, which is owned by Sinopec and is located in Jilin Province, started operation on Nov. 1. The gas field cost RMB 1.99 billion and has an annual output of 1 billion cubic meters.