A Guangdong petrochemical industry and petrochemical base construction working meeting was held yesterday (December 12th) in Guangzhou. It founded a Guangdong Petrochemical industry development team. As the team leader, Guangdong Executive vice-governor Zhong Yangsheng demanded that the Petrochemical coordination be enhanced within different parts of Guangdong; the Petrochemical bases will be constructed and benchmarked with high standards, which will lead to the industry getting larger and stronger in terms of scale and quality. According to Guangdong Petrochemical industry development plan, within the 11th five year period from 2006 to 2010, 180 billion yuan will be invested to build five Petrochemical bases, develop 5 oil refining projects, 5 ethylene projects and a number of downstream chemical projects. It is estimated that Guangdong's overall Petrochemical production value will total 730 billion yuan with an average of annual increase of 20%.

Editor: Yan