China and Kuwait in Final Talks Over Refinery Project


China is in final talks with Kuwait about the details of a planned $9bn refinery and petrochemical project to be built in southern China.

The Chinese National Development and Reform Commission granted Kuwait final approval to construct the refinery and petrochemical complex on the Donghai Island of Zhanjiang, Guangdong province, in March.

The project is expected to be launched either at the end of 2011 or early 2012.

The Sino-Kuwaiti venture between KPC and Sinopec will see an ethylene plant built with a capacity of one million tons a year.

Kuwait aims to double its crude exports to China to reach 500,000 barrels per day.