By Wang Ying
Feb. 20 (Bloomberg) -- China Petroleum & Chemical Corp., the nation’s biggest oil refiner, started building an ethylene plant costing more than 14 billion yuan ($2 billion) in the central province of Hubei, the government said.
Sinopec, as China Petroleum is known, will complete the 800,000 metric-ton-a-year chemical plant in Wuhan by 2011, the Chinese government said in a statement on its Web site. Construction started Feb. 18, it said.
SK Energy Co., South Korea’s biggest oil refiner, will take a 25 percent stake in the venture, Wang Tianpu, president of Sinopec, said in May last year.
To contact the reporter on this story: Wang Ying in Beijing at wang30@bloomberg.net
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