03 June 2008 09:05 [Source: ICIS news]
SINGAPORE (ICIS news)--Kuwait Petroleum Corp (KPC) plans to rope in Royal Dutch Shell and Dow Chemicals as partners in its joint venture (jv) with Chinese major, Sinopec, in the Nansha refinery mega project, said a company source on Tuesday.
Shell and Dow would be able to provide management and technological expertise in the jv with Sinopec and the companies would be roped in as partners once China’s National Development and Reform Commission gave its approval, the source added.
There has been talk of arrangements being made for Dow to enter the jv, which has an estimated cost of $5bn (€3.2bn).
The Guangzhou Environment Protection Bureau (GEPB) recently endorsed the proposed refinery despite concerns over environmental issues.
The jv between KPC and Sinopec, which boasts a nameplate capacity of 1m tonnes/year of ethylene, is slated for completion between 2011 and 2012.
The plant, once completed, will be the largest Sino-foreign joint venture in the country.
($1 = € 0.64)
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