BEIJING - China Petroleum and Chemical Corp. (Sinopec) and China Oil and Food Corp. (COFCO) have signed an agreement to jointly construct a fuel ethanol production unit with a capacity of 1-to-1.2 million tons per year, according to Industrial Info Resources.
Sinopec, China’s largest energy and chemical company, is responsible for 64 percent of all the country's petroleum product sales. COFCO, China’s largest oil and food importer/exporter, is also the country’s leading food manufacturer.
Previously, in May 2006, Sinopec and COFCO penned an agreement to build a bio-ethanol fuel project, with a capacity of 200,000 tons annually, at Hepu in Guangxi Zhuang Autonomous Region, Industrial Info reports.
As part of the new agreement, Sinopec and COFCO will also construct 20 cellulosic ethanol production units with a capacity of 100,000 tons per year.