Sinopec and SK Innovation to Discuss Wuhan Project

The Chinese government says that Sinopec and SK Innovation (Seoul), formerly SK Energy, signed a memorandum of understanding on December 2, to increase cooperation between the two companies and to discuss further the petrochemical joint venture at Wuhan, China. The project includes a 800,000 m.t./year ethylene plant. Sinopec has begun construction of the ethylene plant. Sinopec, in its results announcement in October 2011 said that, the company’s capital expenditure on chemical operations was Rmb6.8 billion ($1.07 billion) in the first nine months of 2011...

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