18 May 2010 11:58

Sinopec gets approval to start building refinery in Guangzhou

Shanghai. May 18. INTERFAX-CHINA - China Petrochemical Corp. (Sinopec Group), China's second-largest oil producer, has received approval from the government to begin construction of a refinery with Kuwait in Zhanjiang city in southern Guangdong Province, state media reported on May 18.

According to China News Service, the refinery will cost RMB 60 billion ($8.78 billion) and have an annual crude oil processing capacity of 15 million tons. It is expected to be put into operation in 2013, with all crude oil supplies coming from Kuwait.

Sinopec originally intended to build the refinery in Guangzhou, capital city of Guangdong Province, but the plan was abandoned over environmental concerns.