04 July 2011 09:13 [Source: ICIS news]
The company will produce petroleum products such as gasoline, diesel and jet A-fuel at its new facility.
It will also produce paraxylene (PX) and benzene, which are mainly used in textile production.
The company will use crude oil and condensates as feedstock at the refinery, according to BEDB.
It will source part of the feedstock from
The company will sell part of its petroleum output in
The statement did not say where the company will sell its remaining petroleum output and aromatic products.
This will be the company’s second phase of the project.
The company will expand its refinery after the successfully completing the first phase of construction at the facility.
Zhejiang Hengyi has offered a local equity participation of up to 30% in the project.
The statement did not reveal when the company will begin building the facilities, while company sources said they do not have further details.
($1 = €0.69)
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