--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
THIS WEEK
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies

BP Joint Venture Starts Production

Global oil, gas and petrochemical giant BP Tuesday launched its first PTA (purified terephthalic acid) joint venture plant in south China, which is expected to boost the country's output by one quarter.

BP Zhuhai Chemical Limited, located in this harbor city in South China's Guangdong Province, is a joint venture, with 85 percent held by BP and 15 percent held by Fu Hua Group Ltd, a local company.

 

Going into full operation Tuesday, the chemical plant, with a total investment of over US$300 million, will reach an initial annual output of 350,000 tons of PTA and expand the capacity to 500,000 tons in the near future.

 

PTA is the preferred raw material used to manufacture polyethylene terephthalate, a polymer widely used in the production of textiles, bottles, packaging and film products.

 

Statistics showed that China's PTA consumption in 2002 exceeded6.6 million tons, of which only 30 percent was supplied by domestic production.

 

(Xinhua News Agency September 11, 2003)

 

 

BP Launches China Venture in Zhuhai
Petrol Giants Await Green Light for JV
Tsinghua-BP Clean Energy Center Launches in Beijing
Tsinghua-BP Clean Energy Center Launches in Beijing
Foreign Investment to Continue in China
Ethylene Plant Outlined
BP Cracks Open Retail Market for Refined Oil
Oil Giant BP and Sinopec Form Joint-Venture
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688