Sinopec discussing petrochem investment with Singapore’s development board

21-Apr-10

China Petroleum & Chemical Corp (Sinopec) is in talks with Singapore's Economic Development Board for petrochemical investment in the island nation. The talks could result in a possible major project in Singapore, and is approximated to involve a number of projects in the petrochemical and refining space. It is reported that Sinopec is exploring options of building a large refining and petrochemical complex on Jurong Island, including a crude oil reserve depot, a large refinery and a lubricant plant. The nod for investment in Singapore by State companies was approved in January 2010 by China's top economic planning agency, the National Development and Reform Commission, when it gave the go ahead for Sinopec to invest in and build a lubricant project in Singapore.