BEIJING--July 18, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--China Petroleum & Chemical Corporation (NYSE:SNP) (Sinopec) (Beijing) and Zhenhai Petrochemical Company Limited have begun construction on an upgrade project to boost Zhenhai Petrochemical's refining capacity by more than 490,000 barrels per day (BBL/d). The company is also working on a $3.24 billion, 1 million-ton-per-year ethylene project.