Italy’s second-biggest energy group Edison has announced that its engineering and construction unit Tecnimont has won a USD 220 million deal to build a polyolefin complex, part of China’s huge petrochemical project. Under the deal struck with CSPC, a joint venture between China’s oil giant China National Offshore Oil Corporation (CNOOC) and Shell Nanhai BV, Tecnimont will build three plants by 2005. CNOOC and Royal Dutch/Shell sealed China’s biggest foreign investment deal last November with a project to build a USD 4.3 billion chemicals plant in Huizhou in the booming province of Guangdong. Tecnimont’s project in Daya Bay in the Guangdong province would include building a density polyethylene plant with an annual production capacity of 250,000 tonnes, a 240,000-tonne capacity polypropylene plant and a plant to produce 200,000 tonnes of linear low and high density polyethylene.
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