China’s Sinopec, Kuwait Petroleum to begin building $9 billion refining complex in Q1 2012
5/23/2011 12:00:00 AM
China’s top refiner Sinopec and state-run Kuwait Petroleum Corp. (KPC) will begin construction of their $9 billion joint venture refining and petrochemical complex in China during the 2012 first quarter, reports said on Monday.
Kuwait news agency KUNA cited a statement from Ruan Risheng, the mayor of the southern city of Zhanjiang, where the complex will be located.
Government officials said the target is to complete construction by the end of 2014 and start operations during the first half of 2015.
The complex is expected to include a 15mn tonne/year refinery, a 1mn tonne/year ethylene cracker and several downstream chemical plants, KUNA said.
China government officials gave their final approval on the project in March.
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