April 17, 2019 / 7:02 AM / 3 months ago

CNPC starts building $1.4 bln ethylene plant in northwest China -state media

BEIJING/SINGAPORE, April 17 (Reuters) - China National Petroleum Corp (CNPC) has started building a 9.05 billion yuan ($1.35 billion) project to make ethylene from ethane in the gas-rich northwestern region of Xinjiang, the state-run Economic Information Daily reported on Wednesday.

The complex, located in Korla city in southern Xinjiang, will have key production units such as a 600,000 tonnes-per-year ethylene facility and a 300,000 tpy high-density polyethylene facility, the newspaper said.

The project is slated for completion by June 2021.

Ethylene is a key building block for plastics, polyester and synthetic rubber. China is the world’s largest petrochemicals consumer and importer.

CNPC, the country’s dominant natural gas producer, churns out 762,000 tonnes of ethane a year from the hydrocarbon-rich Tarim basin, the paper said.

$1 = 6.6991 Chinese yuan renminbi Reporting by Min Zhang in Beijing and Aizhu Chen in Singapore; Editing by Joseph Radford

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