China’s Sinopec Yangzi Petchem eyes $1.27bn refinery expansion

16 November 2010 05:26  [Source: ICIS news]

SHANGHAI (ICIS)--China’s Sinopec Yangzi Petrochemical Co is planning to invest yuan (CNY) 8.47bn ($1.27bn) to expand its refinery in Nanjing, Jiangsu province, within the next five years, a source close to the company said on Tuesday.

The company would increase its crude processing capacity to 12.5m tonnes/year from the current 9m tonnes/year during 2011–2015, added the source.

The company had recently obtained the environmental impact approval from China’s Ministry of Environmental Protection (MEP) for the expansion, according to a statement on MEP’s website.

Sinopec Yangzi Petrochemical also runs a 650,000 tonne/year naphtha cracker, a 1.4m tonne/year aromatics facility and a 1m tonne/year purified terephthalic acid (PTA) unit at the same site in Nanjing.

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By: Dolly Wu
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