The first phase of the mega projects will have an 800,000 tons per year ethylene complex and a 10 million tons per year refinery. While the ethylene complex is expected to come on stream by 2020, the refinery is likely to be put into use a year earlier, according to Chinese media reports.
The mega projects are being built on the basis of a preliminary agreement with Kuwait. The deal envisages 50:50 joint venture to build the energy complex in Zhanjiang.
The mega projects are expected to cost 5.9 billion yuan ($848.76 million), of which 3.8 billion yuan ($546.66 million) investment will be done in the first phase. (RKS)
ALCHEMPro News Desk – China
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
