Ineos, Sinopec building largest Phenol Acetone plant in China end 2016 total investment approximately $0.5billion

Ineos, Sinopec JV for phenol acetone plant in China

10:55 AM, 21st February 2014
Ineos, Sinopec building largest Phenol Acetone plant in China

ROLLE, SWITZERLAND: Ineos and Sinopec YPC signed the Joint Venture Agreement for 50-50 Joint Venture Company to be based in Nanjing, China. The joint venture, which is to be called Ineos YPC Phenol (Nanjing) Company Ltd, is set to build the largest Phenol Acetone plant in China, due to complete at the end of 2016. The joint venture is to be called Ineos YPC Phenol (Nanjing) Company Ltd. It will have a total investment of approximately RMB 3.15 billion ($0.5billion) and is expected to be operational by the end of 2016.

Ineos YPC Phenol (Nanjing) Company Ltd will now build the largest phenol and acetone plant in China. The plant will be based on Ineos’s proprietary phenol technology and Sinopec’s proprietary cumene technology. The annual capacity of the new plant will be at least 400,000 tonne of phenol and 250,000 tonne of acetone. It will also include 550,000 tonne per year of cumene capacity. Together, with associated infrastructure, the joint venture will be the largest capital investment ever undertaken by Ineos in China and opens new opportunities for the company to meet the needs of this rapidly growing market.

“Establishing Ineos YPC Phenol (Nanjing) Company Ltd following the signing of the joint venture agreement is the major step forwards for this important project. We are delighted to have Sinopec YPC as our long-term strategic partner as we build the largest Phenol facility in China. When completed this new world scale plant will bring considerable value to our customers in the region. The partnership is an important development for Ineos Phenol and for Ineos in China,” said Harry Deans, CEO, Ineos Phenol.

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