Phillips joins Chinese rush
15 Jan 2000
Phillips Petroleum has agreed to cooperate with Sinopec, the Chinese state chemicals company, on new projects in China. First on the list is an expansion of the companies' joint-venture high-density polyethylene plant, currently being built at Jinshanwei. Slated for completion in 1998, the plant will make some 100000tpa of HDPE. The new letter of intent could lead to the tripling of this capacity, and the extension of Phillips' holding in the project from two-fifths to a half.
