PetroChina Is Building Ethylene Plant
The $575 million project is due for completion by September 2006. Lanzhou already operates a 240,000-tpy plant to produce ethylene. When completed, the Lanzhou plant would become PetroChina's third-largest ethylene producer after its units in Daqing and Jilin in the rust belt northeast region. Daqing is expected to boost production capacity to 800,000 tpy and Jilin to 750,000 tpy by 2006.
The investment comes nearly three years after ConocoPhilips shelved a plan to build a 600,000-tpy ethylene plant with PetroChina at the same site.