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SEOUL, South Korea — South Korea’s SK Group has agreed to build a $1.1 billion petrochemicals complex in China jointly with China''s state-owned Sinopec and BP, Platts reported.
The complex will have the capacity to produce 200,000 mt/year of butanediol, 600,000 mt/year of acetic acid and 250,000 mt/year of ammonia, according to SK.
"The complex in the southwestern Chinese city of Chongqing breaks ground as early as July or August and is expected to reap more than Yuan 2 billion ($318 million) in pre-tax profits after completion in late 2014 or 2015," SK said.