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Taiwan Firms Join with Sinopec in China Petchems Project

11:57 AM MDT | August 29, 2011 | —natasha alperowicz

Four Taiwanese petrochemical producers have signed a letter of intent in Beijing to build a $15-billion refinery and petrochemical complex in Fujian Province, China. The agreement covers a joint venture among the four companies, Sinopec, and the Fujian provincial government. The announcement follows blocked attempts by the four companies to expand their operations in Taiwan and the companies’ aborted plan in 2009 to build a complex at Quanzhou, Fujian. That complex would have been built near to the site of Fujian Petrochemical, a jv among ExxonMobil, Saudi...

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