Air Products’ Joint Venture Building China Facility
LEHIGH VALLEY, Pa. (AP) -- Air Products and Chemicals Inc. said Tuesday its Chinese joint venture will build a hydrogen production facility for PetroChina Co.
Air Products said the facility will make hydrogen and syngas for use in PetroChina's refinery and petrochemical facilities. The plant is targeted to be on stream in early 2012, and will produce more than 90 million standard cubic feet of hydrogen per day, the company said.
The same Air Products joint venture is also building an air separation unit for PetroChina under a contract announced last year.
Shares of Air Products rose 83 cents to $66.43 in afternoon trading.