China’s Sinochem to build petrochemical complex in Quanzhou

06 March 2009 06:40  [Source: ICIS news]

SHANGHAI (ICIS news)--Sinochem Corp is planning to build a large petrochemical complex base comprising a 12m tonne/year refinery and some downstream petrochemical units in Quanzhou, southern Fujian province, an official from the local government, who requested anonymity, said on Friday.

Though the project has not been approved by the government, the company has been allowed to do the preliminary work, he said.

The 12m tonne/year refinery would be built first, the official said adding that the details on the petrochemical units have not been unveiled.

"In Quanzhou, we have perfect supporting facilities including a good port, which could provide convenient conditions for chemical transportation," the official told ICIS news.

The total investment of yuan (CNY)20bn ($2.92bn) reported by Chinese media 21st Century Business Herald could not be confirmed by the official.

"I do not think the investment [amount] would be disclosed so early," he said.

Attempts to secure official comments from Sinochem were unsuccessful during the time of writing.

Sinopec, Asia’s largest refinery, is also building a joint-venture 12m tonne/year refinery in Quanzhou, with US oil major ExxonMobil and Saudi Aramco. The plant is set to come on stream by end-March or early-April.

($1 = CNY6.84)

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By: Judith Wang
+65 6780 4359



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