China: Oil Processing Zhejiang Refinery to Start Operations in 2020
China’s first private-led refinery complex in the eastern province of Zhejiang is expected to start operations in 2020, Reuters cites China Securities News.
Zhejian/China — According to Reuters, Zhejiang Petrochemical’s project will consist of two 400,000 barrels-per-day oil refineries and two 1.4 million tonnes-a-year ethylene plants.
The overall investment for the project amounts to $ 26.42 billion.
The refinery will be built on an island in the Zhoushan archipelago.
Rongsheng plans to double the plant’s capacity to 800,000 bpd in 2020, the agency reports.