Between 2010 and 2015, China will ramp up its oil refining and petrochemical production capacity by a staggering 50 percent, according to report presented by state-owned Sinopec, one of the biggest refiners and petrochemical producer in China.
Oil refining capacity is expected to touch 507.5 million tons per year by the end of 2010, up 6.4 percent from a year earlier, and is projected to reach 750 million tons per annum by the end of 2015. China is the second biggest energy consumer in the world after the United States.
In the pipeline are three or four oil refining and petrochemical production plants, each with a refining capacity of 20 million tons in Yangtze River Delta, Bohai Sea Rim region and Pearl River Delta regions. Each of them will also have an ethylene manufacturing unit of 2 million tons per annum.
Oil refining capacities of foreign invested companies will increase from 10.5 million tons per annum currently or 4.2 percent of the country's total capacity to 31.5 million tons per annum by 2015, according to the report. All these expansion drives are as per a policy report prepared in 2009.
Fibre2fashion News Desk - India
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