Work on the Fujian oil refinery and ethylene joint venture project in Quanzhou, for refining sulphur-bearing crude, has commenced. The plant is scheduled for completion by 2008. This project- the largest of its kind in China, is a joint venture between the Fujian Refinery and Chemical Co Ltd, Exxon Mobil (China) Petrochemical Co. Ltd. and Saudi Arabian Overseas Oil Company. The ethylene project is estimated to have the following production capacities:
800,000 tpa of ethylene
650,000 tpa polyethylene
400,000 tpa polypropylene
In addition, it will also build a 300,000 ton crude oil wharf and other supporting public facilities.
Upon completion, the Fujian Refinery and Chemical Co Ltd, a 50-50 joint venture between Sinopec and Fujian Provincial Petroleum and Chemical Industry Co. Ltd with an annual oil refining capacity of 4 million tons, will add 8 million tons of oil refining capacity. With crude oil supplied by Saudi Arabian Oil Company, the project will be capable of refining sulfur-bearing crude.
Sinopec, Exxon Mobil (China) Petrochemical Co Ltd and Saudi Arabian Overseas Oil Company are making preparations for setting up an oil product marketing joint venture in Fujian Province, which will mainly market the oil products produced by the refinery and ethylene integrated joint venture.
As the largest investment project in Fujian, the project will provide an impetus to the development of middle and down-stream petrochemical, resin, plastic, light industry, textile, electronics, automobile and food industries in the province. This project also indicates that one more large petrochemical base is rising rapidly in southeastern Fujian Province of China, after Qilu Petrochemical, Yanshan Petrochemical, Shanghai Petrochemical, Jinling Petrochemical and Yangzi Petrochemical
18-Jul-05 
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