Beijing-China Petrochemical Corp. (Sinopec) and PetroChina are in discussions with Middle East companies to form a joint venture for the construction of an ethylene plant in the Middle East, Chinese press reports said. Plans are expected to be finalized by the end of this year or early 2009 with a state-owned oil company said the reports citing Saudi Basic Industries Corp. or Kuwait Petroleum as possible candidates. The project is expected to cost about IB-billion.
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