Work on Sino-Kuwaiti refinery and petrochemicals project to gain momentum

26-Sep-07
Officials from the state-run Kuwait Petroleum International (KPI) have expressed concerns over the slow development of the multibillion Sino-Kuwaiti refinery and petrochemicals plant project. The key issues for the work progress that the Kuwaiti party is raising with the Guangdong government are such as the unsuitability of the site, and adverse impact on the local environment as the project is being built near populated Hong Kong. Concerns of the Kuwaiti government and Kuwait Petroleum Corp. (KPC) have been conveyed to local authorities in South China's Guangdong Province, resulting in an assurance by the authorities of their commitments and the special attention they are giving to the project. The refinery will be built to process 100% Kuwaiti crude supplied by KPC, with a capacity of 13 million tpa (260,000 bpd), while the ethylene cracker unit is slated to have an annual production capacity of 1 mln tons. The project investment is estimated at US$5 billion, though cost may escalate, if the project is delayed. The feasibility study work of the project is expected to be completed by January next year, followed by official approval to start the full engineering design work that normally takes one year.
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