The reporter learned from the relevant personages of Sinopec Group on the 10th that the China-Korea Joint Venture Guangdong Refinery and Chemical Integration Project, known as China's largest joint venture refining project, has finally settled in the east island of Zhanjiang after several setbacks.
According to the source, according to the "Memorandum of Understanding" signed between the Chinese government and the Royal Government of Kuwait in May this year regarding the establishment and development of an integrated petrochemical joint venture project in Guangdong Province, Sinopec Group and Kuwait Oil Company organized a joint team of experts in Guangdong Province. The territory of the project conducted multiple rounds of selection. This expert team is composed of experts from the owners, internationally renowned site selection experts and well-known domestic experts. It is an anonymous proposal to select East Island in Zhanjiang as the optimal site for the joint venture project.
“After a thorough review of the senior executives of Sinopec and Kuwait Petroleum, the final decision was made to accept the Zhanjiang East Island as the site of the Sino-Korean Joint Venture Guangdong Refining and Chemical Integration Project.†The above sources revealed that “just this week, the two sides will initiate adjustments to the new site. Feasibility study report and EIA report work."
At the same time, the reporter learned that the Guangdong Provincial Government and the Zhanjiang Municipal Government also gave a firm commitment to supporting the accelerated establishment and approval of joint venture projects.
According to information provided by Sinopec Group yesterday, the partners of the joint venture project include Sinopec, Kuwait Oil Company and other potential international partners in the refining and petrochemical industry. The preliminary cost estimate for the joint venture project is approximately US$9 billion and will be subject to possible adjustments based on relevant conditions in East Island. The project owner expects that the project will be approved by the National Development and Reform Commission within the next few months and plans to complete it by the end of 2013.
It is reported that as early as 2005, China and Kuwait signed a memorandum of understanding to establish a joint venture large-scale petrochemical project. The project was originally planned to be located in the Nansha area in southern Guangdong. The crude oil used in the refinery will all be provided by the Kuwait Oil Company.
However, due to the location of the project, Nansha is located in the hinterland of the Pearl River Delta, this site selection scheme has attracted fierce debates from outside. Not long ago, Wang Yang, Secretary of the Guangdong Provincial Party Committee, publicly announced the relocation decision of the project when he was interviewed by an overseas journalist group, but did not disclose the new location.
According to the statistics, the project plans to have an annual production capacity of 15 million tons and an annual ethylene production capacity of more than 1 million tons. The overall size exceeds the Sinopec petrochemical project in Fujian.
According to the source, according to the "Memorandum of Understanding" signed between the Chinese government and the Royal Government of Kuwait in May this year regarding the establishment and development of an integrated petrochemical joint venture project in Guangdong Province, Sinopec Group and Kuwait Oil Company organized a joint team of experts in Guangdong Province. The territory of the project conducted multiple rounds of selection. This expert team is composed of experts from the owners, internationally renowned site selection experts and well-known domestic experts. It is an anonymous proposal to select East Island in Zhanjiang as the optimal site for the joint venture project.
“After a thorough review of the senior executives of Sinopec and Kuwait Petroleum, the final decision was made to accept the Zhanjiang East Island as the site of the Sino-Korean Joint Venture Guangdong Refining and Chemical Integration Project.†The above sources revealed that “just this week, the two sides will initiate adjustments to the new site. Feasibility study report and EIA report work."
At the same time, the reporter learned that the Guangdong Provincial Government and the Zhanjiang Municipal Government also gave a firm commitment to supporting the accelerated establishment and approval of joint venture projects.
According to information provided by Sinopec Group yesterday, the partners of the joint venture project include Sinopec, Kuwait Oil Company and other potential international partners in the refining and petrochemical industry. The preliminary cost estimate for the joint venture project is approximately US$9 billion and will be subject to possible adjustments based on relevant conditions in East Island. The project owner expects that the project will be approved by the National Development and Reform Commission within the next few months and plans to complete it by the end of 2013.
It is reported that as early as 2005, China and Kuwait signed a memorandum of understanding to establish a joint venture large-scale petrochemical project. The project was originally planned to be located in the Nansha area in southern Guangdong. The crude oil used in the refinery will all be provided by the Kuwait Oil Company.
However, due to the location of the project, Nansha is located in the hinterland of the Pearl River Delta, this site selection scheme has attracted fierce debates from outside. Not long ago, Wang Yang, Secretary of the Guangdong Provincial Party Committee, publicly announced the relocation decision of the project when he was interviewed by an overseas journalist group, but did not disclose the new location.
According to the statistics, the project plans to have an annual production capacity of 15 million tons and an annual ethylene production capacity of more than 1 million tons. The overall size exceeds the Sinopec petrochemical project in Fujian.
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