China's Sinopec begins construction of Luoyang ethylene project

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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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