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CHINA: Joint venture construction plans for proposed $4,000,000,000 oil refinery and petrochemical complex, CHINA PETROCHEMICAL CORP. (SINOPEC) [China] & INDIAN OIL CORP. LTD. (IOC) [India] Order #: 027206.

Publication: WWP-Report on Engineering Construct & Plant Operations in the Developing World
Publication Date: 01-FEB-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

The local CHINA PETROCHEMICAL CORP. (SINOPEC) is currently said to be planning the construction of a refinery and petrochemical complex. Construction plans under consideration call for building a refinery with an installed production capacity of 200,000 barrels per day. The new facility, to be sited at Shanga in the northern part of Hangzhou Bay, is also expected to include a 1 million ton per year ethylene cracker.

According to local industry sources the INDIAN OIL CORP. (IOC) of India is said to be seeking to establish a partnership with SINOPEC to implement the project. In so doing, IOC is attempting to secure a 26% stake in the venture.

The cost to complete the undertaking, by some time in 2009, has been estimated at $4,000,000,000.

SINOPEC employs a total staff of about 444,000 and acts as a holding that operates through 95 subsidiaries. The company is acknowledged to be the largest refiner and petrochemical producer in China. It is also involved in the construction of refineries as well...

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