OREANDA-NEWS. May 19, 2011. China Petroleum & Chemical Corporation (Sinopec) (600028,0386.HK) started construction on an unsaturated resin factory with Dutch company Royal DSM, reports China Business News, citing a company filing.

The new factory, which is owned by Jinlin DSM--a company jointly founded by Sinopec and Royal DSM, will cost a total investment of 500 million yuan, and will be completed next year.

The unsaturated resin produced by the factory will be used in vehicle, ship and electronic equipment manufacturing, wind power generation, and infrastructure engineering.

Royal DSM, the largest resin manufacturer in Europe, targets sales revenue of USD 3 billion in China in 2015.