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China's ethylene production capacity to double

Experts forecast that six to 10 million tons of new annual ethylene production capacity is expected to come on stream between 2010 and 2011, lifting China’s capacity up to 14 to 18 million tons per annum. Accordingly, China is expected to export some of this new capacity. By 2010, 30-54% of ethylene glycol would be supplied by domestic manufacturers, in comparison to 20% in 2005. One such company that will join the bandwagon is PetroChina, whose initial public offering (IPO) of shares in Shanghai is already earmarked for five projects, including ethylene production capacity expansion. Petrochina plans to maintain its capital expenditure at about 200 billion yuan (US$27 billion) for the next three years for these mega projects. (October 25, 2007)