Energy

Wed, 12/30/2009 - 15:00

Boom times for China's petrochemical equipment manufacturers - association head

by Terry Wang

The global financial crisis severely hurt the international petrochemical industry. China's petrochemical industry has nevertheless continued to grow. The country hastened construction of new refineries and pipelines, and expanded oil and gas development, Zhai Zhiming, head of China's petrochemical equipment industry association, said in an interview with Interfax. China's petrochemical equipment makers have benefited from the additional business, using the opportunity to improve their technology to better compete with overseas counterparts.

"The Kazakhstan-China oil pipeline and the Myanmar-China gas pipelines that are under construction have created a lot of business opportunities for domestic compressor and valve manufacturers," Zhao said.

Shanghai. December 30. INTERFAX-CHINA - Despite the global economic slowdown, the domestic petrochemical equipment market is still booming as several large refineries are under construction, the head of China's petrochemical equipment industry association told Interfax.

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