SK to build naphtha cracker in China

South Korea’s biggest refiner SK Energy said it plans to construct a naphtha-cracking center in China in partnership with China Petroleum and Chemical Corp. (Sinopec Corp.). The facility, with an annual capacity of 800,000 tons of ethylene, will be built in Wuhan, central China. The proposed JV project is expected to cost US$2.2 billion and start up in 2010. The Chinese government has already endorsed the Sinopec project. (April 23, 2007)