Zhejiang begins construction of China’s first private petchem complex
The complex includes two oil refineries with a production capacity of 400,000 barrels/day each and two ethylene plants with a combined capacity of 1.4 million tons/year. Although the company did not give an exact start-up date, Reuters had reported last year that it was likely to start production by 2020.
According to the reports, this project is a part of the government’s target to attract foreign investment into the country’s energy sector and to meet the growing domestic demand for oil products.
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