29 October 2012 06:41 [Source: ICIS news]
SINGAPORE (ICIS)--The expansion plan by Sinopec Zhenhai Refining & Chemical Co (ZRCC) will be halted pending further feasibility studies, the Ningbo local government said on late Sunday.
The company had planned to invest approximately yuan (CNY) 56bn ($9bn) to construct a new 300,000 bbl/day crude distillation unit and a new 1.2m tonne/year naphtha cracker as part of its expansion project at the Ningbo site.
The city would not allow installations of any new paraxylene (PX) plants, the authorities added.
The decision follows protests last week by local residents who are concerned that the project is detrimental to their health.
ZRCC, currently operates a 460,000 bbl/day refinery and a 1m tonne/year naphtha cracker at Ningbo in Zhejiang province.($1 = CNY6.26)
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