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China set higher capacity requirements on new petrochemical projects

April 29/2011

(ICIS) -- China has set higher capacity requirements on new petrochemical projects as part of its effort to restructure the industry and improve its competitiveness, analysts said on Friday. The National Development and Reform Commission (NDRC), Chinas regulatory body that approves major investment projects, issued an "Industrial Restructuring Catalog" early this week containing the raised minimum capacities for specific plants that will take effect on 1 June. The government body last issued the industry catalogue in 2005. Plants with very small capacities will be weeded out for a more efficient use of energy and resources. Production at these plants must be as centralised as possible given their high potency to pollute the environment. New refineries must at least have a 10m tonne/year capacity, up from the 8m tonne/year minimum set in 2005, according to the NDRC catalog.

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