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Chemical

Sinopec to Invest Billions in New Refinery in East China

June 20, 2011
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China Petroleum and Chemical Corp., also known as Sinopec, is planning to invest more than 100 billion yuan (15.43 billion U.S. dollars) for a new refining complex in China''s east Jiangsu Province, reported Saturday''s China Daily. The project, with an annual processing capacity of 32 million tons, will be located in the Xuwei New Area of the coastal city of Lianyungang, said the report, citing a local government official. The refining complex will be developed in two phases, with the first plant built with an annual refining capacity of 12 million tons and annual production capacity for 1 million tons of p-xylene, a Benzine-based hydrocarbon, it said. The project is waiting regulatory approval from the National Development and Reform Commission (NDRC), the country''s top economic planner, with construction expected to begin in 2013 and production to start in 2016.

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