The Chinese government has declared its intent to speed up the developmental process of around 40 petrochemical projects, which are in different stages of development, in the period 2009-2011 as part of the industry plan approved last month.
Off these 40 projects, 20 are already under construction and others are either in drawing board or planning stage. Most of these projects relate to manufacture and processing of crude oil and its derivatives like Paraxylene, Purified Terephthalic Acid, etc.
Under the package, five refineries in Guangdong, Xinjiang, Fujian, Tianjin and Guangxi province have been identified for capacity expansion. The petrochemical sector is expected to add 15 percent to the industrial value between 2009 and 2011.
Fibre2fashion News Desk - India
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