A600kt/amethanolprojectinHainanProvincewithtotalinvestmentabout1.1billionRMBhasbeenapprovedbytheStateCouncil.CNOOCChemicalLimitedsignedinvestmentagreementwithHongKongJianTaoChemicalgroup.Theleadworkoftheprojectwascompletedin2002andconstructionbeganinearly2003.TheplantisexpectedtobecommissionedinFebruary2005.