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Construction starts on $9.9bn petrochemical complex in China
20 November 2024
Image: China News Service via Reuters Connect
Construction has started on a new, multi-billion-dollar refining and petrochemical complex in Fujian, China.
The project involves a total investment of 71.1 billion yuan (US$9.9 billion), which is the largest industrial investment in Fujian to date.
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 facility’s refining unit aims to produce 320,000 barrels per day, as well as 1.5 million tons of ethylene per year, two million tons of paraxylene and will have a 300,000-ton crude oil terminal.
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