Chinese, Cambodian firms to jointly build first oil refinery in Cambodia
By ZHOUDONG SHANGGUAN
BEIJING -- Cambodian Petrochemical Company and Sinomach China Perfect Machinery Industry Corp. will jointly develop Cambodia's first oil refinery costing an estimated $2.3 billion, Xinhua News Agency reported Friday.
The oil refinery will be located on an 80-hectare area within a boundary of Preah Sihanouk province and Kampot province, Xinhua reported, citing Zhang Sugang, president of Sinomach China Perfect Machinery Industry Corp.
Sinomach China Perfect Machinery, a state-owned firm with diverse businesses ranging from oil engineering to property, will carry out construction of the refinery, Xinhua said.
Construction is expected to complete by end-2015, Xinhua said, without mentioning a start date.
Upon completion, the plant will have the capacity to refine 5 million tpy of oil products, equivalent to about 100,000 bpd, Mr. Zhang said.
Cambodia's oil demand is forecast to rise to 3 million-4 million tpy eventually, up from 1 million currently, in tandem with rising economic growth. That's according to Sok An, the chairman of Cambodian National Petroleum Authority. He is also the country's deputy prime minister.
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