Approval for US$9 bln Sinopec-Kuwait refinery, petrochemical joint venture

China's leading economic planning body National Development & Reform Commission has granted final approval for the US$9 bln refinery, petrochemical joint venture between Sinopec and Kuwait, as per Reuters. The venture, to be built in the southern coastal city of Zhanjiang of Guangdong province, includes a 300,000 bpd refinery and a 1 mln tpa ethylene complex. With this, Kuwait follows Saudi Arabia to have a major refining presence in the world's fastest growing major oil market. The project will be 50% owned by Sinopec Group, while Kuwait is likely to hunt for a second or a third foreign partner for joint funding of the balance 50%.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine