Saudi Arabian oil giant Aramco will invest in the development of a major integrated refinery and petrochemical complex in Northeast China, Zawya reports.
Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco, North Huajin Chemical Industries Group Corporation and Panjin Xincheng Industrial Group, will develop the liquids-to-chemicals complex, the world’s largest oil exporter said in a statement.
Per the joint venture agreement, the facility will be built in the city of Panjin, in China’s Liaoning Province and is expected to be operational in 2024 and will supply up to 210,000 barrels per day of crude oil feedstock to the complex.
The greenfield project will include 300,000 bdp refinery capacity and petrochemical units. The decision is subject to finalization of transaction documentation, regulatory approvals and closing conditions.
Aramco to invest in joint venture to develop huge refinery, petrochemical complex in China
