Jan. 19, 2010 (China Knowledge) - China Petrochemical Corp, the largest oil refiner in the country also known as Sinopec Group, announced its one-million-ton ethylene project in Tianjin started operation on Saturday.

Reportedly, the new project, China's biggest ethylene project covering an area of 297 hectares, comprises a one-million-ton ethylene facility, a 10-million-ton oil refining facility, a thermal power facility and ancillary facilities. The total investment is estimated at RMB 34 billion.

The new project will boost the processing capacity of Sinopec's Tianjin plant to 15 million tons per year, and the capacity of ethylene will increase to 1.2 million tons. The Tianjin plant will be able to produce 5.87 million tons of product oil, 3.2 million tons of ethylene, and 1.5 million tons of advanced synthetic resin.