On Thursday, China Petroleum and Chemical Corp. (Sinopec) announced the first phase of the Gulei refining complex in Zhangzhou, Fujian.
The complex is a 50:50 joint venture between Sinopec’s Fujian Petrochemical Co. Ltd. and Taiwan Xuteng Investment Co. Ltd. In the phase, about CNY27.8 billion (USD4.28 billion) was invested for an 800,000 tpa ethylene plant, a 600,000 tpa styrene unit, and seven other downstream petrochemical units.
The complex aims to produce 18 chemical products, including polypropylene, ethylene glycol, and styrene with total output reaching 3 million tpa.
The second phase of the project is being accelerated in its development. It will spur the ethylene capacity at the complex to 1.4 million tpa and drive total chemical output to 4.2 million tpa.
