Sinopec to Build 800,000-Ton Ethylene Project in Hainan Province

BEIJING--July 16, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--China Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing) will build an 800,000-ton-per-year ethylene project in central China's Hainan Province. The company will invest $4.3 billion in this and other projects to form the largest petrochemical base in central China. South Korea's SK Chemicals Company (SEO:006120) is said to have signed an agreement with Sinopec to hold 35% of the shares.