Chinese state refiner Sinopec Corp on Tuesday announced that it had started up a new integrated refining and petrochemical complex in the coastal city of Zhanjiang, in south China. The CNY44 billion ($6.2 billion) project includes 200,000-bpd crude oil refinery and 800,000-tons/year ethylene plant. It is also connected to a 300,000-tonnage crude oil terminal and berths capable of handling tankers with a capacity of 100,000 tons.
The project is the third integrated refining and petrochemical complex to start up in China. The other projects were built by Hengli Petrochemical Corp and Zhejiang Petrochemical Corp. Sinopec’s project is expected to drive new investment worth CNY200 billion ($28 billion) and open thousands of new job opportunities in Guangdong province.
