Sinopec to build ethanol plant in Hubei

China’s largest oil refiner Sinopec will co-invest with Hubei Daohuaxiang Group for a 100,000 ton per year fuel ethanol plant in Yichang, Hubei province, Hubei local media reported. The two sides plan to invest 440 million yuan (US$62.94 million) and respectively take 70% (Sinopec) and 30% (Daohuaxiang) stake in the plant. It is reported that the project, adopting sweet potatoes as its raw material, has already come into the stage of environmental impact assessment. (May 7, 2008)