China's Sinopec begins construction of Luoyang ethylene project
Corrects typographical error in first word in paragraph one
BEIJING, May 29 (Reuters) -China's Sinopec 0386.HK 600028.SS has begun construction of an ethylene plant and a green advanced materials base in the city of Luoyang in central China's Henan province, the state-owned refiner said in a statement on Monday.
The project, which is expected to be put into operation in December 2025, is expected to produce around 3 million tonnes of refined chemicals annually, with the ethylene plant expected to produce 1 million tonnes per year, it said.
Sinopec's total planned investment in the project is 27.8 billion yuan ($4.02 billion).
The project is aimed at reducing China's dependence on imports of high-end refined products, the statement said.
($1 = 6.9121 Chinese yuan renminbi)
Reporting by Andrew Hayley in Beijing and Aizhu Chen in Singapore; Editing by Jason Neely
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