China's private-led refinery complex in Zhejiang to start operations in 2020

(Reuters) — China’s first private-led refinery complex in the eastern province of Zhejiang is expected to start operations in 2020, China Securities News reports, citing a provincial governor, a timeline behind what the company had earlier predicted.

The refinery complex has seen total investments of $26.42 B, said the report, without giving further details.

Chinese chemical giant Zhejiang Rongsheng Holding Group plans to start up a 400,000-bpd refinery complex, under phase-I of the mega project, in late 2018, Reuters has reported. The refinery will be built on an island in the Zhoushan archipelago.

Rongsheng has plan to double the plant’s capacity to 800,000 bpd in 2020.

Reporting by Chen Aizhu

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