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SK Innovation to Buy Stake in Sinopec's Wuhan Project in First Quarter

12:26 AM MST | February 10, 2011 | Deepti Ramesh

SK Innovation (Seoul), formerly SK Energy, through the company’s petrochemical business, SK Global Chemical, plans to acquire the previously announced 35% stake in Sinopec’s petrochemical project at Wuhan, China in the first quarter of this year, press reports say. The company had announced in 2008 that it will take an equity stake in Sinopec’s naphtha cracker and derivatives complex at Wuhan. SK Energy spun off its petrochemical, refining and lubricants businesses last month and the company’s petrochemical business was named SK Global...

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