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KPC expects nod to develop US$9 bln refinery and 1 mln tpa ethylene project in China

March 02/2010

March 2 (plastemart) -- Kuwait expects to receive approval to develop a US$9 bln refinery and a 1 mln tpa ethylene project in China by the end of the year. After initial approval in 2006, the project has suffered years of delays, and still awaits approval from Beijing. State-owned KPC and Sinopec each hold a 50% stake in the joint venture, with KPC planning to hive 20% of its share to international partners. BP Plc was linked with the project in 2007, but appeared to be out of the running in 2008 when Kuwait shortlisted Royal Dutch Shell and Dow Chemical Co as potential partners for refining and petrochemicals respectively.

 

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KPC expects nod to develop US$9 bln refinery and 1 mln tpa ethylene project in China

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