(plastemart) -- Zhejiang Hengyi has
signed a land lease agreement with the Brunei Economic Development Board (BEDB)
for its Integrated Refinery and Aromatics Cracker Project in Brunei Darussalam.
The China Zhejiang Hengyi (Brunei) PMB Petrochemical Project at Pulau
Muara Besar (PMB), Indonesia, is the largest investment project for a
privately-owned Chinese company overseas, according to Mr Qui Jian Lin, the
Chairman of Zhejiang Hengyi Group.
The project, the largest overseas investment by a privately-owned Chinese
firm, is designed to process 15 million tons of crude oil a year and churn out
products such as p-xylene and aromatic hydrocarbon.