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Ineos Phenol and Sinopec Yangzi Petrochemical Company have broken ground on the largest phenol and acetone plant ever to be built in China. The ground-breaking ceremony for the 1.2Mt development was held in Nanjing Chemical Industry Park.
The companies have established a 50/50 joint venture with a total investment of approximately US$0.5bn, which will generate sales revenue of around US$0.8bn/yr. It is expected that the plant will be operational by the end of 2016.