China approves refinery deal with Kuwait
Posted: 31 July 2006
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China has approved a $5 billion domestic oil refinery joint venture with Kuwait.
To be jointly funded by the China National Petrochemical Corporation (Sinopec) and Kuwait Petroleum Corporation (KPC), the refinery will be built in south China's Guangdong Province.
It is set to become China's largest foreign-invested petrochemical project, overtaking the 4.3-billion-dollar Nanhai Petrochemical Project, a joint venture of China National Offshore Oil Corporation and Shell Petrochemical, Shanghai Securities News reported. |
