BP: MoU for joint venture in China
(CercleFinance.com) - BP has announced signing of a Memorandum of Understanding with Zhejiang Petroleum and Chemical Corporation (ZPCC) to study the creation of a 50:50 joint venture to build and operate an acetic acid plant of one million tonnes per year.
Located in Zhoushan, Zhejiang Province, in eastern China, this new site would deploy BP's Cativa XL technology to produce this chemical used in paints, adhesives and solvents.
"The potential new plant, which would be an addition to ZPCC's major integrated refining and petrochemical manufacturing complex at Zhoushan, would be BP's largest acetic acid producing site in the world," the British energy group said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Located in Zhoushan, Zhejiang Province, in eastern China, this new site would deploy BP's Cativa XL technology to produce this chemical used in paints, adhesives and solvents.
"The potential new plant, which would be an addition to ZPCC's major integrated refining and petrochemical manufacturing complex at Zhoushan, would be BP's largest acetic acid producing site in the world," the British energy group said.
Copyright (c) 2019 CercleFinance.com. All rights reserved.