13 January 2012 09:45 [Source: ICIS news]
The project is expected to cost around $2.5bn (€1.95bn) and is most likely to be built in the southern port city of
The refinery is expected to come on stream in 2015-2016, according to the source.
Zhuhai Zhenrong will benefit from tax breaks as well as favourable land use and exchange rate policies if the firm chooses to build the new refinery at Dawei, according to the source.
The firm will partner with two Myanmar-based firms - a government-linked firm and a private company - to build the new refinery in Dawei, the source said.
The $50bn Dawei Special Industrial Zone will include a deepwater port, an oil refinery and petrochemical units, according to media reports.
Additional reporting by Nurluqman Suratman
($1 = €0.78)
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