Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development Board (BEDB) for construction of an integrated oil refinery and aromatics plant on Pulau Muara Besar, the largest island in Brunei, reports The Brunei Times.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
The rescheduled construction of the US$ 20 billion plant is likely to be completed by 2016 and the plant is expected to become operational in early 2017.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
The agreement was signed by Haji Abdul Manaf Haji Metussin, chief executive officer of the BEDB, and Fang Xian Shui, general manager of Hengyi Petrochemical, in presence of Dato Paduka Haji Ali Apong, chairman of BEDB.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
In $4 billion phase I of the project, about 150 of the 260 hectares of land would be utilized, and upon completion it would produce petrochemical products like paraxylene and benzene.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
Dato Ali Apong estimated that about 780 employment opportunities would be created during Phase I of the project.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
Hengyi’s project will be the second petrochemical project in Brunei, and one of the largest foreign direct investments in Brunei to date.
Hengyi Industries Sdn Bhd, a subsidiary of China-based Zhejiyang Hengyi Group, has signed a land lease agreement with the Brunei Economic Development #
Fibre2fashion News Desk - India