Sinopec discussing South China refinery and petrochem project with KPC, Dow, Shell

Sinopec Corp. is holding talks with Kuwait Petroleum Corp, Dow Chemical Co. and Royal Dutch Shell to build a major refinery and petrochemical plant in Guangdong, South China. The refinery and petrochemical plant is planned at an investment outlay of US$5 bln. The partners were preparing to do feasibility studies for the Guangdong project, which could have a capacity of 350,000 bpd and would meet Shell's hopes for a foothold in China's refining sector. Subject to approvals, the refinery is slated to become one of the largest joint venture investments in China, overshadowing the nearby Nanhai petrochemical complex built by Shell and CNOOC for US$4.3 bln.
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