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Borstar new PE technology selected for Shanghai expansion
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Borealis A/S
: 22 February, 2000 (New Product) |
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China Petrochemical Company today announced it has awarded Borealis and Tecnimont a contract for the supply of licence and know-how, engineering, procurement services, and technical assistance for a new Borstar polyethylene plant. According to the agreement signed yesterday, the Shanghai Petrochemical Company Limited will build a 250,000 tonne Borstar polyethylene plant at Jinshanwei, Shanghai, People's Republic of China. The new facility, scheduled for start-up in early 2002, will be the largest polyolefin production unit in China. |
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China Petrochemical Company today announced it has awarded Borealis and Tecnimont a contract for the supply of licence and know-how, engineering, procurement services, and technical assistance for a new Borstar polyethylene plant.
According to the agreement signed yesterday, the Shanghai Petrochemical Company Limited will build a 250,000 tonne Borstar polyethylene plant at Jinshanwei, Shanghai, People's Republic of China. The new facility, scheduled for start-up in early 2002, will be the largest polyolefin production unit in China.
According to Zhang Zhiliang, SPC Executive Director and Vice President, 'The selection of Borstar will enable us to provide a wide range of advanced polyethylene grades for demanding applications like pipe, wire and cable, film and moulding. This means we will be able to decrease the country's reliance on imported materials and strengthen the position of Shanghai Petrochemical Company as a leader in the polyolefins business in China.'
Shanghai Petrochemical Company Limited is one of the largest petrochemical enterprises in China and is a unit of SINOPEC. Located in Jinshanwei in the southwest of Shanghai, the company is a highly integrated petrochemical complex producing a broad range of products. The company is listed on the Shangai Securities Exchange, the Hong Kong Stock Exchange, and the New York Stock Exchange. SINOPEC is a state holding corporation with a business scope that covers petroleum, gas, and petrochemicals.
For Borealis, the sale of Borstar licences to third parties is an important element in the company's strategy of becoming a global leader in polyolefins. According to CEO Svein Rennemo, 'Being awarded our first licence in China with SINOPEC for Shanghai Petrochemical Company is an important milestone for Borealis. This proves that Borstar is increasingly being recognised as a leading polyolefins technology.'
The Borealis Group is a major player in polyolefin plastics with the resources and ambition to become a global leader. With an annual capacity of some three million tonnes, Borealis is a leading polyolefins producer in Europe and the fourth largest in the world. Borealis aims to also become a leading supplier of polyolefins technology with its Borstar PE and PP technology, which it offers by licence to the global industry. Borealis is currently significantly increasing its own capacity of Borstar polyolefins with a new PE unit in Sweden and a new PP plant in Austria. In addition, its Borouge joint venture with ADNOC is currently building two new Borstar PE units in Ruwais, Abu Dhabi, with Tecnimont as the engineering partner.
Tecnimont, the engineering company of the Montedison Group, has implemented a large number of projects in China since 1986 including 12 contracts for polypropylene production units. The new contract for SPC strengthens Tecnimont's position in China as the leading international contractor in the field of polyolefins. |
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