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Over billions in investment or the largest petrochemical refinery project will be built
Recently, Sinopec ( 600028, SH ) have been associated with the government of Jiangsu province reached intention, in Lianyungang ( 601008 ) port Xu Wei to invest in the construction of China's largest 32000000 tons refinery integration project. After the project is completed, will become China's first chain can exceed 30000000 tons per year of the enterprise, in the global oil refining enterprises in the ranking is expected to enter the top five.

Yesterday ( June 16th ), Lianyungang Xu Wei New District Merchants Bureau three a management in the acceptance of" daily economic news" reporter when the interview disclosed, the project preparatory work has been started, the whole project investment will exceed 100000000000 yuan a preliminary estimate. The proportion of investment has not yet been clearly.

In June 14th, Sinopec and Jiangsu provincial government signed a strategic cooperation agreement in Beijing. The official said, the whole project construction in two phases, one phase of the project includes 12000000 tons oil refining and 1000000 tons / year PX project, two period included 20000000 tons oil refining and 1000000 tons / year ethylene project.

" A project being developed can grind the report is expected to 2013, by hair change appoint approval and construction, completed by the end of 2015, 2016 put into production." The officials said, at this stage there is no clear Sinopec with the local government in project investment ratio, by introducing the third party investors unlikely.

However, Sinopec President Wang Tianpu said, the company will adopt the way of joint venture, in Lianyungang project on the introduction of large international petrochemical company.

To tie in with the refining integration project implementation, Sinopec will also support the construction of 300000 DWT Crude Oil Wharf, 5000000 cubic meters of crude oil reserves and 5000000 tons of class LNG receiving station.

It is reported, for the above projects supporting the 300000 DWT Crude Oil Wharf to the NDRC for approval, is expected in 2012 will complete the examination and approval procedures, and in 2013 started construction, and by Sinopec and Lianyungang Port Group joint venture construction operation, which accounted for 70% of the shares, Sinopec, which accounted for 30% of the shares. Environmental protection cause industry attention.

Why Sinopec will choose Lianyungang? The official said, Jiangsu is the advantage area of Sinopec, and local port, and to build the rear oil refining and chemical industry area, land area is abundant, the local no big chemical industry, environmental capacity to digest such a large oil refinery project.

Petrochemical industry on environmental pollution, so the project will affect the local environmental protection? " Sinopec have pledged to adopt advanced refining technology, environmental protection must be guaranteed." These people said.

Wan Xuezhi said, Sinopec has rich experience in construction of large petrifaction base, as long as the strict compliance with the relevant environmental protection requirements, implementation of standards of environmental protection problem.

According to senior members of the refinery, the project is expected to enter the" 45" planning, Lianyungang has the import and export of a certain advantage, but the future progress of the project of national oil refining industry, but also as the layout of oil source and market capacity and other factors. PetroChina oil refining plate bearing

China currently has 20 ten million tons and above refinery. Among them, Sinopec oil in 13, 6, CNOOC 1; 20000000 tons / year in 2 ( the refinery Zhenhai Refinery 23000000 tons / year, Dalian Petrochemical 20500000 tons / year ).

" Twelfth Five-Year Plan" period, China's new oil refining projects are in the tens of millions of tons of above, among them in the construction, pending or planning for the new extension to the tens of millions of tons of project 24, above of 20000000 tons of class 11.

Apparently, Sinopec said after the completion of the project will become China's first chain can exceed 30000000 tons per year of the enterprise, in the global oil refining enterprises in the ranking is expected to enter the top five.

" The project include oil refining, chemical, reserve," Wan Xuezhi told reporters," yield from investment look, Sinopec crude oil of high external dependence, the project of crude oil will be mainly from the Middle East, oil refining project performance by crude oil price influence, but reserve system is conducive to reducing crude oil price fluctuations on the impact."

" This project construction will increase the oil, oil pressure of competition." Wan Xuezhi says, this project appears to rival refining pressure sharply increased, the future will be increasing in the refining and chemical aspects of investment.

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