Sinopec-KPC’s Guangdong complex awaits NDRC approval

04 March 2010 08:06  [Source: ICIS news]

SHANGHAI (ICIS news)--Sinopec’s joint-venture with Kuwait Petroleum Corp (KPC) to build a refinery and a petrochemical complex is awaiting approval from China’s economic planning body, National Development and Reform Commission (NDRC), a media contact from Sinopec said on Thursday.

The petrochemical complex includes a 15m tonne/year refinery and a 1m tonne/year cracker.

"We have already submitted the project to the NDRC, and we are waiting for the final approval," Wang Tao, the media contact, told ICIS news.

Earlier this week, KPC's chief executive said the company expected the approval to come by the end of the year, Reuters quoted the Kuwait News Agency (KUNA) as saying.

The $9bn (€6.6bn) project, which is located at Zhanjiang in southern Guangdong province, was expected to come on stream by the end of 2013, according to an earlier report from ICIS news.

Shell late last year dropped a plan to involve itself in the Sinopec-KPC complex, citing strategic and commercial considerations.

 ($1 = €0.73)

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By: Judith Wang
+65 6780 4359



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