Construction begins on $9.9bn industrial project in China
The project represents the largest industrial investment made in Fujian to date
Construction has begun on a new multi-billion-dollar refining and petrochemical complex in Fujian, China.
The second phase of the Fujian Gulei integrated refining and petrochemical project is a collaboration between China Petroleum & Chemical Corp (Sinopec), Saudi Arabian Oil Co (Saudi Aramco), and Fujian Petrochemical Co. It is expected to be fully operational by 2030, according to Sinopec.
The project is being developed with a total investment of US $9.9bn, which is the largest industrial investment in Fujian to date, according to a report.
The facility’s refining unit aims to produce 320,000 barrels per day, as well as 1.5m tons of ethylene per year, two million tons of paraxylene and will have a 300,000t crude oil terminal.
