China approves Sinopec, Kuwait refinery venture in Guangzhou – MarketWatch

From MarketWatch:

The Chinese government has approved the construction of a joint venture refinery by China Petrochemical Corp., or Group, and Kuwait Petroleum Corp. in southern China, a source close to the issue said Tuesday.

The investment for the planned refinery is expected to total $8 billion, of which $5 billion may be from KPC, the source told Dow Jones Newswires.

The project is likely to be the largest joint venture petrochemical project by investment in China, superseding a $4.3-billion petrochemical complex in southern China by China National Offshore Corp., or CNOOC, and Royal Dutch Shell PLC (RDSB.LN).

July 25, 2006, 5:40 AM
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Categories: Economy