CNOOC to invest IPO money

June 2006
ICIS Chemical Business;6/19/2006, Vol. 1 Issue 24, p12
Trade Publication
The article reports on the plan of China's CNOOC Chemical to spend almost three quarters of its $400m initial public offering in Hong Kong, China, scheduled by August 2006, to build a 1.13m tonne/year methanol plant in Hainan Island. The new project will add to a 600 000 tonne/year methanol plant that is due to come on stream as early as August 2006. The firm, a unit of energy giant China National Offshore Oil Company, estimates that it will cost Yuan2.36 bn, €235m/$295m.


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