China: Sinopec & SK Energy Form Joint Venture for Hubei
|
|
|
|
Friday, 30 May 2008 |
Sinopec has announced this week it
planned to tie up with SK Energy Co., of Korea, to construct an ethylene project in Wuhan,
capital ofthe central Hubei Province.
The framework agreement
was signed by both companies during ROK President Lee Myung-bak's visit
to Beijing. The project will be the largest investment the country has
made in China.
According to the framework agreement,
Sinopec and SK will sign the contract for joint investment this year.
SK will hold a 35 percent stake in the project, which has an estimated
investment of more than 14 billion yuan.
PetrolWorld 290508
|
