Zhejiang Hengyi to cut reliance on imports with Brunei project
01 December 2011 08:05 [Source: ICIS news]
SINGAPORE (ICIS)--China’s Zhejiang Hengyi Group aims to reduce its reliance on feedstock imports with its new petrochemical project in Brunei, a company source said on Thursday.
About 60% of the company’s consumption of paraxylene (PX) is imported, the source added, but declined to say how much it wants to reduce its PX imports by.
The $6bn (€4bn) project at Pulau Muara Besar is expected to produce aromatic hydrocarbons such as PX, but there are no details on how much PX will be produced.
The facility will process 15m tonnes/year of crude oil and condensates, the source added.
Zhejiang Hengyi signed an agreement with Brunei Shell Petroleum in November to supply the facility with crude oil, the source said, without elaborating further.
($1 = €0.74)
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By: Adele Zhu
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