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BOC and SPC to form industrial gases joint venture in Shanghai, China02 May 2006 - BOC and Shanghai Petrochemical Co. Ltd. (SPC), a subsidiary of Sinopec Group, have signed an agreement to form a 50/50 industrial gases joint venture (JV) and entered into a contract to supply industrial gases to SPC and nearby users in Shanghai, China.The JV, BOC-SPC Gases Company Ltd., will invest more than US$80 million in acquiring four air separation units (ASU) from SPC and building a new large ASU capable of producing 1,400 tonnes a day of oxygen. The JV will supply SPC and third party markets a total of more than 5,000 tonnes per day of oxygen, nitrogen and argon. News regarding Cooperation |
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