Kuwait Petroleum considers Total as partner in China project

06 February 2012 11:18  [Source: ICIS news]

SINGAPORE (ICIS)--Kuwait Petroleum Corp (KPC) is considering Total as a possible international partner for its refinery and petrochemical project at Guangdong province in China, a KPC official said on Monday.

“We are still in the process of finalizing the selection,” said Meshari Al-Mahmoud, who is in charge of the China project at KPC.

The yuan (CNY) 59bn ($9.4bn) petrochemical project in Zhanjiang is a 50:50 joint venture between China’s Sinopec and KPC.

KPC is on the lookout for a partner to share on its 50% stake in the project, with a view to divesting 20% to a third party.

The project, which broke ground on 18 November 2011, consists of a 15m tonne/year refinery, a 1m tonne/year cracker and several downstream facilities, including polyethylene, polypropylene and ethylene glycol units etc.

The refinery is scheduled to start up in 2013 and the cracker is expected to start up in 2015.

($1 = CNY6.31)

By: Jean Zou
+65 6780 4359

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