(MENAFN) Multinational chemical firm LyondellBasell inked a joint-venture accord with China Petrochemical Corporation (Sinopec), China's main oil refiner, on Tuesday, January 27.
The two parties will put a 50-50 joint venture firm to increase the manufacture of propylene oxide (PO) and styrene monomer (SM) in China.
The joint venture firm will construct a plant in the city of Ningbo, in east China's Zhejiang Province, by the end of this year, with a yearly production of 275,000 tons of propylene oxide and 600,000 tons of styrene monomer.
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