MOSCOW (MRC) - China's Sinopec Group has begun construction of a long-planned refinery and petrochemical complex in the southern city of Zhanjiang, said Reuters.
The first phase of the mega projects includes a 10 million tonnes per year refinery and an 800,000 tonnes per year ethylene complex that produces plastics, synthetics, rubber and fibre, Sinopec said.
Sinopec and OPEC member Kuwait has agreed on a preliminary deal to build the energy complex in a USD9 billion joint venture.
As MRC informed earlier, Rosneft and Sinopec Groupsigned in June 2016 a Framework Agreement on joint pre-feasibility study of the project related to the construction and operation of a gas processing and petrochemical complex in East Siberia.
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group's key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.
MRC