State approves Sinopec's feasibility study on Shanghai ethylene project

China Petroleum & Chemical Corp. (0386), better known as Sinopec, said the State Council approved the feasibility study on the Shanghai 900,000MTA Ethylene Project this week. The total investment in the project is about US$2.7 billion. Sinopec, Shanghai Petrochemical (0338) and BP own 30 percent, 20 percent and 50 percent of the project respectively.

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