Sinopec inks USD 9 billion refinery pact with Kuwait
Wednesday, 04 Nov 2009
Silo Breaker reported that China's Sinopec has signed a preliminary pact with Kuwait to build a USD 9 billion refinery in southern China after it was forced to move the plant due to environmental concerns.
Sinopec said that Asia's biggest refiner and Kuwait Petroleum International signed MoU with the Guangdong government.
According to a report in our sister newspaper, the oil refinery project has been moved to an island near Zhanjiang city after residents and environmental groups opposed its original location at Nansha near the provincial capital Guangzhou.
The refinery is expected to process up to 15 million tonnes of oil a year and produce one 1 million tonnes of ethylene using crude mainly from Kuwait.
