Sinopec Group, the parent of Sinopec (600028,0386.HK), signed agreements with SK Group and BP Chemical Investment to build production facilities for butanediol, acetic acid, and ammonia, in Chongqing, reports 163.com.

The facilities to be built include one with annual BDO production capacity of 200,000 tons, and a 600,000-ton acetic acid production facility.

BDO is used to make spandex and synthetic leather, while acetic aicid is used as a solvent to produce acetate and synthetic fiber.

Subsidiary Sichuan Sinopec Chuanwei and SK Group will jointly build the BDO facility, while Yangzijiang Hanoylacetyl Chemical, a subsidiary of the three parties, will build the acetic acid production base.

According to Sinopec Group, seven billion yuan will be invested in the integrated projects, which are expected to realize total after-tax profit of two billion yuan.......