China National Offshore Oil Corporation (CNOOC) plans to build an ABS (acrylonitrile-butadiene-styrene) plant in Huizhou, Guangdong province, partnering with Korean LG Chemical Ltd., which is confirmed by CNOOC.
    Both sides will form a 50 : 50 joint venture to operate the plant, with a total investment of US$370 million.
    Construction on the first phase with an initial ABS capacity of 150 000 t/a is expected to be started in the first half of 2010, which is due to be commercially operated in the second half of 2011. And for the second phase - 150 000 t/a ABS facility, both sides will commence to build it in 2013.
   CNOOC opened a 12 million t/a refinery in Huizhou site since June 2009, which has capability of producing 4 million tons of petrochemicals.
   LG Chemical operates an ABS plant in Ningbo, Zhejiang province, near Sinopec Zhenhai Refining and Chemical Company. LG Chemical plans to expand its Ningbo ABS plant capacity to 700 000 t/a, from current 580 000 t/a before 2012.