BEIJING, October 10 (InfoChina) – Jilin Chemical, a chemical subsidiary of PetroChina (NYSE: PTR), recently kicked off its 320,000 tons/year acrylonitrile expansion project that will require a total investment of 760 million yuan.

The project, expected to become the country’s largest acrylonitrile production base when completed, will annually add 1.161 billion yuan of sales revenue and 159 million yuan of net profit for the company.

   After three rounds of capacity expansion, Jilin Chemical’s annual acrylonitrile production capacity reached 212,000 tons by 2003, up from the initial 66,000 tons.

   Jilin Chemical (Shenzhen: 000618; HK0368) used to list in both A-share and H-share markets at home and aboard. PetroChina launched a tender offer to privatize the company early this year.