China’s Sinopec finishes petrochemicals study

Chinese oil major Sinopec Corp. and two foreign companies have finished a joint feasibility study for a USD 3.0 billion petrochemical complex in southern China, a Sinopec official has said. Sinopec subsidiary Fujian Refining and Chemical Co, Exxon Mobil and Saudi Arabia’s Aramco will build the integrated plant in Fujian province. It includes an 8.0 million tonne per year (tpy) refinery, a 600,000 tpy ethylene plant, a 450,000 tpy polyethylene plant and a 300,000 tpy polypropylene plant. “We have completed the joint feasibility study and will submit it to the State Development Planning Commission at the end of this month,” the company official said. Sinopec Fujian will hold a 50% stake in the project, while Exxon Mobil China Petroleum & Petrochemical Co and Aramco Overseas Company will hold 25% each.

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