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Sinopec begins ethylene complex construction in Zhanjiang
Dec '16
China Petrochemical Corporation (Sinopec Group) a super-large petroleum and petrochemical enterprise group, has begun construction of an ethylene complex in South China’s Zhanjiang. The mega project, which includes construction of a refinery, is being built as part of a 50:50 joint venture with Kuwait. The ethylene complex is likely to be completed by 2020.

The first phase of the mega projects will have an 800,000 tons per year ethylene complex and a 10 million tons per year refinery. While the ethylene complex is expected to come on stream by 2020, the refinery is likely to be put into use a year earlier, according to Chinese media reports.

The mega projects are being built on the basis of a preliminary agreement with Kuwait. The deal envisages 50:50 joint venture to build the energy complex in Zhanjiang.

The mega projects are expected to cost 5.9 billion yuan ($848.76 million), of which 3.8 billion yuan ($546.66 million) investment will be done in the first phase. (RKS)

Fibre2Fashion News Desk – China

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