PetroChina launches $1.2 bln ethane-to-ethylene project in Xinjiang – Reuters

PetroChina launches $1.2 bln ethane-to-ethylene project in Xinjiang – Reuters

BEIJING, Aug 31 (Reuters) - PetroChina (601857.SS), Asia's largest oil and gas producer, said on Tuesday its Dushanzi Petrochemical Company has launched an 8.04 billion yuan ($1.24 billion) ethane-fed ethylene project in China's far western region of Xinjiang.

The project is designed to produce 600,000 tonnes of ethylene, 300,000 tonnes of high-density polyethylene and 300,000 tonnes of full-density polyethylene per year.

The project will help reduce dependence on foreign ethylene processing technology, PetroChina said in a statement.