China's biggest ethylene maker, Sinopec Shanghai Petrochemical, is planning to upgrade its refining facilities in 2004 to boost output by more than half, from the current 8.8 million tons to 14 million tons a year
The expansion, due for completion by the end of 2004, centers on an investment of RMB 387.6 million to revamp the company's largest vacuum and atmospheric distillation plant.
Parent company Sinopec, which is Asia's largest refiner, said it was expecting a 5% rise in China's consumption of refined oil such as diesel and petrol and an 8.6% rise in ethylene consumption in 2004.