Ineos and Sinopec go ahead with $500-million phenol-acetone investment in China

Ineos Phenol and Sinopec Yangzi Petrochemical Co. (Sinopec YPC) have today initialled joint venture agreements for the design, build, and future operation of a previously announced 1.2-million m.t./year cumene, phenol, and acetone complex at the Nanjing Chemical Industrial Park, in China. The companies expect the project to be completed by the end of 2015, two years later than originally planned. Total investment cost in the whole joint venture project is in excess of $500 million. The partnership will benefit from Sinopec’s local feedstock and cumene...

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