Sinopec’s new company specialized in building refining and petrochem facilities to aid overseas expansion

04-Sep-12

China Petrochemical Corp. (Sinopec Group) has set up a engineering and construction company specialized in building refining and petrochemical facilities, paving the way for further expansion of its businesses overseas. The new company, Sinopec Engineering, has been set up in Beijing with capital of 3.1 billion yuan (US$488 mln) through the restructuring of Sinopec Group's eight engineering and construction firms. The unit has the capacity to handle over 20 large-scale engineering, procurement and construction projects at one time.