By ZHOUDONG SHANGGUAN
BEIJING -- China Petrochemical Corp., known as
Sinopec Group, has received approval from China's environmental watchdog to expand its
refinery complex in southern China's
Hainan province, the Ministry of Environmental Protection said.
Sinopec will expand the capacity of its Hainan refinery to 13 million metric tpy of
crude oil, or about 261,000 bpd from the current 8 million
tons, or 160,000 bpd, the ministry said in a statement Sunday
on its website.
Meanwhile, the company will build a new ethylene unit with
an annual capacity of 1 million tons, the statement said.
Total investment in the expansion project will be 41.72 billion yuan
($6.64 billion), it said, without giving a timetable for the
completion of the project.
Sinopec is China's top ethylene producer and accounts for
about two-third of China's total output. It produced 9.45
million tons of ethylene last year, the company said in
In 2012, China produced 14.87 million tons of ethylene, down
2.5%, according to the Ministry of Industry and Information Technology.
Dow Jones Newswires