PetroChina launches US $1.2 bln ethane-to-ethylene project

Asia's largest oil and gas producer, PetroChina launched a US $1.24 billion ethane to ethylene project in Xinjiang, to produce 600,000 tonnes of ethylene, 300,000 tonnes of high-density polyethylene and 300,000 tonnes of full-density polyethylene annually.

The project will take place through its company Dushanzi Petrochemical which has an annual ethylene capacity of 2 million tonnes. 

This project is expected to help reduce dependence on foreign ethylene processing technology, the company said in a statement on Tuesday.